New boiler cost tax deductible?

[Luigi]

Dear All,

I am thinking to replace the old boiler in my B2L property with a new combi one. Just to make sure the tenants to have a peaceful winter and save fuel costs!

Can anyone let me know if the cost of fitting a new boiler tax deductible for current year?

Thanks a lot!

[Melboy]

The installation cost is a tax deductable item.

It is not possible to quote you because it will depend on many installation factors like what model of boiler you want installed and this will always require a site visit to inspect and a written quote from any professional Installer?

The only way is to get proper quotes in from Gasesafe (Corgi)registered installers to have any idea of what the cost will be.

Try and get an Installer who comes to you personally recommended as to his credentials and workmanship and be aware that there are more Cowboys out there then there are in Texas.

Don't bother with BG as their prices will always be higher than the Independent Registered Installer. BG make up their money/profit by adding on sundry items to the basic price whereas my Son's heating company will keep the sundry items within the overall quoted price..... in other words no hidden extra's.

Mel.

[Richlist]

The costs can only be offset against income tax liability if it meets the rules:

1. It must be a like for like replacement. HMRC accept that regulations now require condensing boilers. But it must not have a larger capacity or be part of an increase in system size eg more radiators etc.

2. Its fitment must not form part of a larger building project such as an improved kitchen or added utility room etc.

3. The work must not be done immediatly following purchase of the property.

4. The work must not be done during a period when the property was not rented or not available to rent.

Are you aware that there are numerous grants & schemes available to pay for at least some of the work depending on your circumstances ?

[Luigi]

Thank you both for the reply. I am just starting to get quotations.

Richlist - Appreciate the detail list of the criteria. Looks like my case meet all the 4 requirements. I am quite interested in the grants & schemes you mentioned, any further information where I can start? Thanks a lot!

[Richlist]

I am quite interested in the grants & schemes you mentioned, any further information where I can start?

You'll have to dig these out for yourself.......in the last week I've seen national press adverts for:

* Large discounts from specific boiler manufacturers. and

* Offers of cheap rate installations for people over certain ages.

Contact some of the larger installers & energy saving websites/ helplines etc to see what applicable to you.

[Luigi]

Richlist or Mel,

Got another question, to be able to be tax deductible, do I have to get VAT invoice from the installer or normal invoice/receipt is fine?

Thanks for your help!

[Richlist]

There is no legal or other requirement to obtain any receipt for any expense in order for it to be tax deductable. Self assessment just requires you to complete the appropriate forms with relevant information. However, if subsequently, HMRC requires you to provide proof of the expenditure then a receipt is the easiest and most common way of prooving you have incurred the expense........but it is just one way.......there of course many others.

Any reciept will do. It should include the installers name, date, amount paid and a brief summary of the work carried out. Wether it includes VAT information is of no relevance as you are not VAT registered.