first time tax questions

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    first time tax questions

    first year of renting and im confused by what i can and cannot claim as an expense. First of all white goods, i understand you can now claim for replacing white goods but is that from 2016 onwards or also for the past tax year?
    I bought a house for the exclusive purpose of renting it. The white goods were already in place, i have now had to replace the fridge for the past tax year in an unfurnished property, can i claim for that?
    Boiler replacement, i understand you can replace but not upgrade the boiler. The system was leaking and the pipes were not correctly installed, it was a cyclinder and system boiler system. I replaced it with a combi, would that count as repair or upgrade? The system was unusable and combi was the cheapest replacement option.

    Thanks.

    #2
    The tax return for reporting income from property is SA105 which has a guide to explain what is allowed as an expenses against rental income.

    I suggest you download the SA105 Notes for 2015 and 2016 on allowable expenses.

    Comment


      #3
      The fridge would not have been allowed last year, but would be allowed since the start of this tax year.

      The boiler would be allowed, any replacement of something old with something modern will have an element of improvement, but it's not betterment.
      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


        #4
        Thanks. But im confused if the fridge can be claimed for this year even though i paid for it during last tax year?

        Comment


          #5
          No, it is subject to the contemporary rules, so it's not allowed.
          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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