Inadvertent buy-to-letMake Text Bigger
I’ve just bought a new property which we would like to make our personal residence but in the interim requires a large amount of work. As a result we are living elsewhere whilst the works are carried out.
During the works it is likely that we will rent out a portion of the house, and therefore it has inadvertently become a buy to let, albeit this is an informal situation.
In this type of scenario could I account for this property in the same way as a buy-to-let and therefore claim the losses even though in a years time it will become my principal residence?
Furthermore could I claim some off the work as costs (subject to the usual limitations on this)?
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