I want to know can I still claim under the scheme listed below [ Countrywide refurbishment scheme]Tax relief can be claimed for capital expenditure incurred, on or after 6 April 2001, on the refurbishment of rented residential accommodation.
The expenditure is allowed as a deduction over a 7 year period, i.e. the expenditure is allowed at a rate of 15% per annum for the first 6 years with the balance of 10% allowed in year 7.
I carried out major refurbishment during 2007 and before July 2008 which was the termination date of the scheme and was the qualifying dates for work to be carried out. However on the Revenue details it says there are no conditions attaching to the new termination date for the Countrywide Refurbishment Sheme.
My qustion is can I now offsett the expenditure incurred during 2007 and 2008 against rental income for 2009. I was told by a friend that you can claim reliefs for a period up to 4 years .
The expenditure is allowed as a deduction over a 7 year period, i.e. the expenditure is allowed at a rate of 15% per annum for the first 6 years with the balance of 10% allowed in year 7.
I carried out major refurbishment during 2007 and before July 2008 which was the termination date of the scheme and was the qualifying dates for work to be carried out. However on the Revenue details it says there are no conditions attaching to the new termination date for the Countrywide Refurbishment Sheme.
My qustion is can I now offsett the expenditure incurred during 2007 and 2008 against rental income for 2009. I was told by a friend that you can claim reliefs for a period up to 4 years .