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Posted Tue, 16 Jul 2024 17:16:11 GMT by JoshLang38
My Father passed away intestate and I'm currently awaiting a grant of probate. I am his only next of kin and intend to let his leasehold property once probate is granted. In the meantime, I have begun refurbishment works all of which are repairs, not enhancements. Will I be able to claim the cost of those repairs against my rental income for the relevant tax year once the property is let? My concern is that these expenses won't be deductible from property income tax as they were made before legal ownership.
Posted Thu, 18 Jul 2024 09:43:54 GMT by HMRC Admin 8 Response
Hi,
Please refer to the guidance linked below.  The beneficiary of the estate can take ownership when the Administrator gives 'Assent' even if you don't take possession of the property at that time.
If you are intending to let the property, you would be looking at the pre letting expenditure from that date.  
Pre letting expenditure is covered at:
PIM2505 - Beginning and end of a rental business: commencement
So ultimately, you have got to agree the date of 'assent' with the Administrator:
TSEM6115 - Legal background to trusts & estates: administrators give assent  
TSEM6115 - Legal background to trusts & estates: administrators give assent 
Thankyou.

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