rblackburn Posted November 28, 2009 Report Share Posted November 28, 2009 Could anybody give me simple tax advice. I purchased & renovated a property in tax year 2007/2008. I didnt receive any rent on the property until tax year 2008/2009. Can I claim any of the cost of refurbishment against my 2008/2009 tax liability ? Thanks Link to comment Share on other sites More sharing options...
GPEL Posted November 28, 2009 Report Share Posted November 28, 2009 It depends on what your re-furbishment consisted of and may or may not be able to offset any or all of it. In general terms, improvements/new additions cannot be offset but repairs or updating by replacement can; you just need try and to be creative. Link to comment Share on other sites More sharing options...
stevie-b Posted November 29, 2009 Report Share Posted November 29, 2009 If i rewire a house can i claim it as updating by replacement rather than against capital expenditure? Link to comment Share on other sites More sharing options...
GPEL Posted November 30, 2009 Report Share Posted November 30, 2009 I think it would depend on why you are doing it and whether or nor it includes additional fittings beyond one to one replacement. I would argue that you could as it is bringing it in line with current installation and safety standards and see what they say. Link to comment Share on other sites More sharing options...
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