salavan Posted June 8, 2011 Report Share Posted June 8, 2011 hi folks i know it may not be relivent to this site but hope there somone who can advise me i just had a new heating system installed in my rented property, and i just wondered if the cost of the instalation is tax deductable, either as an expence or as a capital allowance thanks Link to comment Share on other sites More sharing options...
Melboy Posted June 8, 2011 Report Share Posted June 8, 2011 hi folks i know it may not be relevent to this site but hope there someone who can advise me i just had a new heating system installed in my rented property, and i just wondered if the cost of the installation is tax deductable, either as an expense or as a capital allowance thanks Short answer is "Yes"........to both questions......but obviously you can only claim the once! Mel. Link to comment Share on other sites More sharing options...
Richlist Posted June 8, 2011 Report Share Posted June 8, 2011 1. If the property has been purchased to let and the new system was installed before the property was available to let then its a capital expense. 2. If the property is already part of your rental business and has an up graded system fitted its a capital expense. 3. If the property is already part of your rental business and a like for like replacement has been fitted then its a revenue expense. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.