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Posted Mon, 01 Jan 2024 19:08:11 GMT by Travelling Afar
My late mother owned a holiday let property which was first let from March 2022. Mum passed away in July 2022. A tax return was completed for income received during this period and no tax was due because it was lower than the personal allowance. I was advised by my accountant at the time that I should claim the set up expenses for the holiday let on my own tax return which would cover the rental income generated during the rest of the 2022/23 tax year. I have recently listened to an HMRC tax webinar on allowable expenses and asked this question in the chat - and was advised that I could not claim any of the set up expenses on my own tax return, I can only claim for expenses incurred since I inherited the property. Is there any way of the set up expenses paid out by my mother being offset against tax?
Posted Tue, 09 Jan 2024 15:55:35 GMT by HMRC Admin 10
Hi
No you cannot claim these as they were not incurred by you.  
The rental business was also up and running when you inherited the property and as such you have no start up costs.
Beginning and end of a rental business: commencement

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