UK Landlord Forum / Life

Very new to this, so would appreciate some more advice.
Have read the topics on this forum under finance and have also read HMRC's website.
What have you more experienced landlords claimed back as "allowable expenses" with regards to a rented property, apart from the obvious on HMRC's list?

What constitutes a repair rather than a renovation-not a silly question as I had to "repair" the bathroom and the kitchen prior to renting. If you look at it like that - I had to "repair" the whole house.
Can the cost of new carpets be offset against tax, or if I get them cleaned can that be offset under "repair and maintenance" ?
Does "wear and tear" on my new kitchen appliances count too?

Can the total cost of my expenditure on the property prior to rental be offset against the rent as a loss - I will not be making a profit for at least five years, if that, at the rate at which maintenance for leaking pipes etc continues.

So many questions - apologies   and thank you in advance for any help and advice

Hi Jacson,

Elite Financial Accounting offer free advice and specialise in property tax.

The website is www.elitefinancialaccounting.com

Thanks.

Perhaps you want to do the bookkeeping yourself. Try www.bungaloow.com. They allow you to manage your expenses and stuff.