Can I claim a tax deduction?

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    Can I claim a tax deduction?

    I bought a property in 2007 for me to live in. Around 2009 I had to take a loan for £9000 to pay for roof repairs, to replace some of the heating and guttering. I have started letting the property out but I am still paying the loan. Can I claim the interest as a tax deduction? They where essential repairs at the time but I don't know if I kept any invoices as I was never planing to let the property at the time.

    There's no perfect answer.

    If you made the repair in 2009, when you were living in the property and have only recently started using it for a rental business, the repair has nothing to do with making the property available for rent, it was simply a necessary repair to your home and therefore not a business expense. That rules out the connected interest.

    If the repair was carried out specifically in order to make the property rentable, it would be allowable and the interest should also be allowable as a connected expense,
    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).


      I'm thinking that the repair and the interests on the loan might be separate issues.

      Indeed, the loan and any mortgage are used to finance the property as it was when added to the business. As such, all the interests might be allowed as a financing cost.

      Don't take my word for it, though...


        Seems like personal expenditure to me.


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