9:46 AM, 8th December 2022, About 12 months ago 6
Hello, I have just finished renovating my first holiday let. I am 20 years into BTL, so understand what I can and cannot claim in this area. But HL’s are new and I am reading about them, but it is still a little unclear.
Please do not say go and ask an accountant. There would be little point in posting this here if I was going to do that.
I can read the HMRC docs so feel confident I know what I can claim for, but would appreciate if someone could confirm.
It seems the capital allowances come into play with the holiday lets and I can see I can claim for my rewiring, new plumbing, furniture and pots and pans etc, the new kitchen and bathroom, plus the new flooring.
So do I just use the AIA which gives 100% write-off up to 1 million (I think). My total spend is only £28k so I am well under this amount.
Does anyone know if I could also claim for the insulation I put into the place? Maybe £3k including new plasterboard and studs.
I tried to call HMRC yesterday and waited 1h 10mins until I got through to a telehandler, who then tried to transfer me over to the technical team but cut me off instead.
On another issue, does no one else see our whole system of working has broken down? It is so frustrating waiting to get through to any institution today, or a 4 week wait to see a GP.
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