Re-roofing a rented property - Tax Treatment

[Regression]

Hello,

Last summer I had to re-roof a rented property at a cost of just under €30,000.

It comprises a shop on the ground floor and two apartments, one on the first floor and one on the second floor.

The premises was mostly occupied while the work was done and is fully occupied at the minute.

From reading the revenue website my own view is that it would come under repairs as I have simply restored the building to its original state.

I would appreciate any advice/comments.

Thank you.

 

[Bronte]

From reading the revenue website my own view is that it would come under repairs as I have simply restored the building to its original state.

.

It can be a bit of a funny area this, I 'repaired' a roof last year. Full roof retiled. My accountant considers it to be repairs rather than capital expenditure. It it had been capital then I would not be able to offset it against rent. I could then of course claim it against CGT if I sold. That's if there were any gain, which there wouldn't be currently !

Generally, capital expenditure is when you add value.

Just run it by your accountant for his views.