Can I claim costs of property I didn't end up buying

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    Can I claim costs of property I didn't end up buying

    I was in the process of buying my first buy to let. The sale fell through at the last minute as the vendor pulled out. I have incurred about £1.2k of expenses. (Mortgage fees, survey, lawyer fees). Is there anyway I can claim these expenses on my tax return. Dont normally fill in a tax return.

    If so, would the cost of survey and legal fees be a capital loss?

    #2
    Abortive purchase costs are unlikely to be allowable for CGT.

    Comment


      #3
      if done through a ltd co absolutely, done personally no chance. Got burned with exactly the same thing only for the tw** to put the same property up for sale with same agent again 6 weeks later.

      Comment


        #4
        Although not deductible for CGT, if the costs relate to raising of finance, then they can qualify as "incidental costs of finance" for Income Tax purposes - even if abortive.

        Investment Companies can deduct qualifying management expenses.

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