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Posted Wed, 21 Aug 2024 17:09:02 GMT by Eduardo Gómez
I recently bought a house in Spain, jointly with a family member, and we just started renting it. It is the first time I do this. As UK tax resident I understand I will need to declare that income (50% of it, as that's the part I owned) in the self-assessment. I was wondering if expenses related to renovation can be deducted from the resulting profit when filling in the self-assessment or if there is other (or no) way of accounting for that. I was unable to find clear information about it.
Posted Thu, 22 Aug 2024 14:38:31 GMT by HMRC Admin 25
Hi Eduardo,
 When completing your SelfAssessment ax return we would advise you to complete the SA106 Foreign supplementary page which contains a section relevant to your situation.
In doing so, gives you the opportunity to disclose both the rental income and other receipts, as well as any allowable property expenses.
Guidance can be found within the SA106 foreign pages notes here:
Foreign notes
However, structural changes would be deemed capital improvements, so would not be allowable.
Thank you. 

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