Hi,
I'm going to start renting out my house in July. I've lived in it for the last 11 years, since I bought it. Over that time I've spent over €15,000 doing the place up (eg: new kitchen, bathrooms, furniture etc). Most of the spending was in 2006-2007 with a smaller amount in the last 2-3 years.
When I rent the house out, how much of this can I use as "Capital Allowance" to reduce my tax bill for renting the house out?
All thoughts appreciated,
C
I'm going to start renting out my house in July. I've lived in it for the last 11 years, since I bought it. Over that time I've spent over €15,000 doing the place up (eg: new kitchen, bathrooms, furniture etc). Most of the spending was in 2006-2007 with a smaller amount in the last 2-3 years.
When I rent the house out, how much of this can I use as "Capital Allowance" to reduce my tax bill for renting the house out?
All thoughts appreciated,
C