Don't see why not.I am looking at extending my existing mortgage to cover the costs for repairs and improvements.
Would this meet the criteria, I wonder?
Addition of a new bathroom is a repair / replacement?!I consider the work you're planning to be a repair/replacement. As such it can be claimed in one go in you tax returns.
No I was referring to the the existing bathroom only.Addition of a new bathroom is a repair / replacement?!
I disagree. And my accountant wouldn’t agree with you either. It’s a fact of rentals that every so often you have to do repairs/replacement. I spent nearly 6k on three existing shower rooms last tax year and my accountant said it’s fully deductible.Thanks Gordon.
The works/upgrades to the existing bathroom as described by the OP don't strike me as repairs - they very much look like enhancements to me.
But is it not subject to wear and tear so therefor can be claimed in Capital Allowances over 8 years ?The cost of the new loo is enhancement expenditure, and relevant only to CGT.
But is it not subject to wear and tear so therefor can be claimed in Capital Allowances over 8 years ?
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