Thanks in advance for any help.
I recently bought a house with a buy to let mortgage. It was a receiver sale and the last people living there were renters (the owners never actually lived there it was always rented out) The house was idle for 6 months then before I got the keys. My questions are around tax ultimately.
The house needed a fair bit of work (I knew this before buying) but I now have it pretty much ready to let.
The biggest job/ cost was plumbing because the boiler was broken and radiators were old and damaged so the lot was replaced. Other things broken were the alarm, the gas hob and there was no washing machine. I also got the windows serviced to make them as efficient as possible.
All of which needed to be done and fixed before you could let it out.
Because the house was rented before I bought it, it needed to be painted etc too.
My question is can I claim tax relief on all of this right away or over the 8 years. I think I can but the rules seem very very complicated.
I recently bought a house with a buy to let mortgage. It was a receiver sale and the last people living there were renters (the owners never actually lived there it was always rented out) The house was idle for 6 months then before I got the keys. My questions are around tax ultimately.
The house needed a fair bit of work (I knew this before buying) but I now have it pretty much ready to let.
The biggest job/ cost was plumbing because the boiler was broken and radiators were old and damaged so the lot was replaced. Other things broken were the alarm, the gas hob and there was no washing machine. I also got the windows serviced to make them as efficient as possible.
All of which needed to be done and fixed before you could let it out.
Because the house was rented before I bought it, it needed to be painted etc too.
My question is can I claim tax relief on all of this right away or over the 8 years. I think I can but the rules seem very very complicated.