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tax return and what i can claim

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Author Topic: tax return and what i can claim  (Read 139 times)
Newbie
Posts: 1

I like property

« on: December 08, 2021, 05:35:20 PM »

Hi
In July 2020 I bought my first rental property
I had to do more work to it than expected to make it rentable ie outside rendering replaced as water was accessing the property and damaging some electrical sockets
On advise from a letting agent a full clearance of carpets, new ones supplied and decorated were completed
can i claim the expense of these costs back now under repairs and maintenance or have i improved the property and can only claim when i sell and deduct from capital gains?
Global Moderator
Hero Member
Posts: 1415

I like property

« Reply #1 on: December 08, 2021, 07:23:25 PM »

I would certainly include these under maintenance on your tax return.I don't think you have done anything that adds to the capital value.
Accidental Landlord
Full Member
Posts: 102

Just trying my best

« Reply #2 on: December 09, 2021, 11:56:22 AM »

Yes, I believe those are allowable expenses
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