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Posted Mon, 21 Oct 2024 11:16:13 GMT by cumbrian
Hello, I bought a property in 2007, but never lived in it. In 2010 I rented it out, but prior to renting it the electrical wiring required to be renewed/replaced throughout the property. I am currently in the process of selling the property and would like to know if I can claim capital allowance for the costs of the electrical upgrades performed. No revenue deductions were made for the cost of the upgrade to the electrical system. Thank you
Posted Wed, 23 Oct 2024 14:42:30 GMT by HMRC Admin 33
Hi,
Yes, you can.
Tax when you sell property: Work out your gain
Thank you.
 

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