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Posted 4 months ago by Adrian Hicks
With the new short-term holiday let licencing regime in Scotland, I have incurred considerable expenses in applying for the licence and meeting it's various condition. If I claim these as expenses in the tax year when I paid them, the profit for that year will be reduced. Can I allocate some of these expenses to subsequent tax years? For example the fee for the licence covers three years - can I allocate this expense over three years? Similarly Fire Risk Assessment costs, and costs of bringing electrical installation and fire alarm system up to standard required for licence. Thank you
Posted 3 months ago by HMRC Admin 20 Response
Hi,
No.
You need to claim them in the year that they are incurred/paid.
Thank you.

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