Capital Allowance Tax on Rental Property

[Duckndive]

Coverted a shed into small 2 bed apartment adjacent to my house and renting it out on Airbnb at the moment. I know i can claim for ongoing costs whilst renting likes,cleaning maintenance( wear and tear), laundry, food provided for guests etc but what costs can i claim for in my build to get it to liveable stage under capital allowance tax. Its cost me approx €60K with Insulation & slabbing(€10K) Plastering(€5K) Electrical, (€9K), ESB connection(€4K) Plumbing(€5K)Carpentry work(€7K) Kitchen (€6K) Furniture,Appliances, Beds (€7K) Bathrooms(€4K). I have receipts for all these costs. Mu understanding is that I can claim back these bills at 12.5% over 8 years against my rental income.

Can anyone clarify whether all these costs can be claimed for or not as it doesn't seem very clear online asto what costs can be claimed for ?

 

[dublin67]

It isn't clear because the position is complicated and the case law is convoluted. You are entitled to claim capital allowances on fixtures & fittings but not the building costs. The defintion of fixture is one that can be removed from the building without causing it damage. Once the removal causes damage is part of the building and capital allowances may not be claimed. For example, from memory capital allowances may be claimed on fire prevention items (as these can be removed) but not wiring. The latter is typically embedded in the wall, This is my recollection from looking at it a good few years ago. There are firms of quantity surveryors that specialise in this but it may not be worth engaging them for expenditure of this varieity.