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Posted 8 days ago by peterthompson
We bought a cheap property which was in very poor condition over twenty years ago. There was no intention to sell the property for gain, but it did not become our primary residence as planned. The house was extensively renovated and extended, largely by ourselves, and although the work carried out has resulted in a significant and unusual increase in value, over that period of time no receipts or invoices exist. Is it acceptable to list the improvements with a cost breakdown to show how we have arrived at our expenses valuation, or will HMRC reject the claim?
Posted 4 days ago by HMRC Admin 25 Response
Hi peterthompson,
As you have no evidence, you can only provide a reasonable estimate of what these costs were. providing the breakdown of what these are should be included in your report. you cannot claim expenses for your own time.
Thank you.

 

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