Self Assesment

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    Self Assesment

    Hi All

    I tried to find an answer on this thread but wasn't successful

    In terms of listing items that I can claim against tax for a rental property, am I able to:

    Include interest and capital repayments as part of the self assessment?
    Include the cost of new windows for the flat

    Thanks

    #2
    For Income Tax purposes :

    1. Interest is deductible; capital repayments are not.

    2. New windows are deductible as repairs, unless they are improvements.

    Comment


      #3
      Thanks, Much appreciated

      I assume I can claim for replacing carpets with wooden floors?

      Comment


        #4
        Depends if they needed replacing or you're improving the property.

        If you are repairing, yes, wooden floors are fittings.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

        Comment

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