redleprechaun
Registered User
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- 7
Hello,
I am considering (as one possibility) renting out a house. But it needs some cosmetic repairs (mostly decorating) to get good rental value. I though I'd be able to offset this against rental income tax.
But I now read the Revenue website and see that expenses prior to renting out are not allowable - while maintenance, including decorating, when the house is rented out is allowable. Expenses between lettings are allowable "in certain circumstances" and I could not find any information about these circumstances.
So is there some way to make these decorations on an allowable basis?
Also "capital expenses on property improvement" are not allowable, but where is the border between "maintenance/decoration" and "property improvement"? For example, is tiling a floor "maintenance" or "improvement"? How about fitting a new lighting fixture?
I am considering (as one possibility) renting out a house. But it needs some cosmetic repairs (mostly decorating) to get good rental value. I though I'd be able to offset this against rental income tax.
But I now read the Revenue website and see that expenses prior to renting out are not allowable - while maintenance, including decorating, when the house is rented out is allowable. Expenses between lettings are allowable "in certain circumstances" and I could not find any information about these circumstances.
So is there some way to make these decorations on an allowable basis?
Also "capital expenses on property improvement" are not allowable, but where is the border between "maintenance/decoration" and "property improvement"? For example, is tiling a floor "maintenance" or "improvement"? How about fitting a new lighting fixture?