Tax relief on rental Income

sunnyday1234

Quick one guys

If i rent a house for 2016, can i offset repairs that i did in 2015 against the tax on the rental income ?

Or do the repairs have to be in the same year as the rental

Mitzy

It depends on whether the first letting for the property was in 2016.
Any preletting expenses are not allowed for tax deduction.

sunnyday1234

so if first rental was 1st jan 2016 but i had it cleaned in december for the new tenants - is that not available to offset?

Gumbo

sunnyday1234 wrote: »

Quick one guys

If i rent a house for 2016, can i offset repairs that i did in 2015 against the tax on the rental income ?

Or do the repairs have to be in the same year as the rental

Have to be in the same year as the rental and during the rental, or between two different rentals. Cannot be done before you first rent it out I believe.

sunnyday1234

thanks and am i correct in saying i cant claim against a new sofa for example or water softener?

Gumbo

sunnyday1234 wrote: »

thanks and am i correct in saying i cant claim against a new sofa for example or water softener?

They can be Capital Expenditure. 12.5% over 8 years but don't quote me on that.

sunnyday1234

kceire wrote: »

They can be Capital Expenditure. 12.5% over 8 years but don't quote me on that.

ok thanks for the help

The_Conductor

sunnyday1234 wrote: »

thanks and am i correct in saying i cant claim against a new sofa for example or water softener?

Sofa you can write off on a flatline basis over 8 years.
Water softener- probably not- I'd ask advice on this- but as a general rule, it probably wouldn't be allowable.

riclad

you claim for large items over 8 years ,
eg 320 e fridge, from powercity, claim 40 euro for the next 8 years , 8x40 =320 .
of course you,ll need the receipt from the shop.
copy the reciept for your own tax records .
small items say 40 euro kettle ,claim in the year it was bought .