I want to optimise my revenue allowances from new investment !Make Text Bigger
I have recently purchased and refurbished a house and now it’s time to submit all the info to my accountant. I once read, I think on this forum, that if you asked 10 accountants which costs were allowable against income tax and which against capital gains you would get 10 different answers.
I also read that everything you spend before your first rent is received is a cost allowable against capital gain.
On the refurb we had to carry out structural repairs . Are these allowed as a repair cost when calculating income ?
The kitchen and bathrooms were unfit for letting so we provided new . I take it the cost of these would be allowed against capital gain.
Any guides or lists would be gratefully received .
I want to be an informed landlord that can constructively challenge my accountant ( who are not property specialists )
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