What can I claim back from the tax man?

[reph4444]

apologies for further dumb questions but desperate to scrape back what I can and I guess I only get one chance of doing this :-(

I assume I can claim the following via my IT:-

• annual Gas/Elec certification
• repairs that don't improve the value of the house
• mileage at 45p per mile for my vists to the house whilst carrying our repairs or only when meeting prospective clients as I have no Letting Agent ?
• Any cost of setting up finances to mortgage the house, assume this doesn't include the mortgage deposit :-(
• Annual interest charges from Mortgage
• Annual Building Insurance costs

and I would have to claim renovation costs, carpets, laminate floor, plastering, painting, DIY, gardening costs against CGT when I come to sell the property?

Sorry if I'm dargging this out but I am keen to clear up the situation before I need do a tax return (my first in years)

[Richlist]

apologies for further dumb questions but desperate to scrape back what I can and I guess I only get one chance of doing this :-(

I assume I can claim the following via my IT:-

• annual Gas/Elec certification Yes
• repairs that don't improve the value of the house Yes, provided they were not carried out prior to your fist let.
• mileage at 45p per mile for my vists to the house whilst carrying our repairs or only when meeting prospective clients as I have no Letting Agent ? Yes, provided the trip was wholly & exclusively to visit the property.
• Any cost of setting up finances to mortgage the house, assume this doesn't include the mortgage deposit :-( Not any but some/ most
• Annual interest charges from Mortgage Yes
• Annual Building Insurance costs Yes

and I would have to claim renovation costs, carpets, laminate floor, plastering, painting, DIY, gardening costs against CGT when I come to sell the property? If the property was already fit to let and you decided to decorate /DIY prior to letting then the cost is deductable for IT......otherwise the decorating would be against CGT. Everything else is likely to be against CGT.

Sorry if I'm dargging this out but I am keen to clear up the situation before I need do a tax return (my first in years)

Are you sure you don't need to see an accountant for the first year ?.....he's likely to save you more than the fee

[reph4444]

Richlist - thanks for all your helpful responses. Think you're right that an accountant may be in order. Any clues where I can find a good one and what I should expect to pay?

Sorry still confused where I offset my building repairs (i.e. CGT or IT).

some of the cost was to complete dampcourse and a roof leak which led to decorating.

some of the cost was purely to spruce up (e.g. decorate/carpet/floor)

sounds like from an IT perspective it would be better if more of the cost fell into the latter

Thanks again for all your help