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Posted Tue, 02 May 2023 21:18:42 GMT by snoop dogg
Hi What id HMRC's definition of Dilapidated. I have brought a house in my personal name, it needs a lot work before being able to let, its going to cost me many thousands to make lettable. My question is can I claim all the costs involved such as buying material/labour to get the house ready to let as allowable expenses, or is expenses only claimable once let. In its current state the house is not in a liveable condition.
Posted Wed, 10 May 2023 09:57:56 GMT by HMRC Admin 5

As the price paid for the property will reflect the work required, these costs cannot be claimed against the rental as they are capital expenses.

You can find guidance here  PIM2030 - Deductions: repairs: is it capital?

Thank you.

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