Yes thats correct. But my question is different. Preletting expenses are not allowed. The first let of the house was 1 bedroom for a short time. Does this now trigger the qualification of letting expenses ??? Or does the fact that it could be deemed an uneconomic letting disqualify it? Per the language I quoted aboveOnly the interest portion of mortgage repayments is allowable, not the full amount
Thanks for your rpeky. so if I can summarize. The initial letting short as it was has triggered from tax perspective that the property expenses are allowable and size of rent collected so far would not fall foul of the economic rent requirement.Revenue would not flag this as it's only 500 euro and even then you have a perfectly plausable explanation should you be audited.
Within reason and within the month of letting available. You can't let it sit there for a year and then claim full years interest relief or updating carpets etc.the property expenses are allowable
No to travel expenses or your own labour. You can claim letting agency fees or advertising.Do people claim expenses for travelling to and from a property for repairs or while vetting people for new lets. Any thoughts
Thanks . I knew you couldn't claim your own labour but heard a few saying you could for travel expenses.No to travel expenses or your own labour. You can claim letting agency fees or advertising.
You know what would happen if it were allowed, right?Seems unfair if you cannot claim reasonable mileage to inspect property, handle handovers etc. You can in Germany (where your own labour is also not allowable). It's a real expense you have to incur as a landlord.
Sure. Landlords would be on a par with any other self-employed taxpayer. Problem?You know what would happen if it were allowed, right?
Yes, these are allowable expenses for capital gains tax, not income tax.If a rental property is being sold can you deduct the solicitor fees and estate agent fees on a tax return?
The problem would be that many landlords would come up with urgent reasons for regular monthly visits to their properties on the other side of the country, and any synchronicity with gigs, sports events, holidays at those locations would be entirely coincidental, so taxpayers would end up subsidising such travel. It would be extremely difficult to manage and validate such travel.Sure. Landlords would be on a par with any other self-employed taxpayer. Problem?
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