Replacement Boiler in Rental Property

I jointly own a rental property with my spouse. As part of the pre-letting work on the property we replaced an aging gas boiler with a new unit, and this is being financed by a 4 year interest free loan from British Gas. As a like for like replacement, should we claim the sum of the monthly payments made during each tax year until the loan is paid off, or the entire cost of the replacement boiler in the current tax year?

Hi,
Thanks for your question.
As per HS340 found here:
HS340 Interest and alternative finance payments eligible for relief on qualifying loans and alternative finance arrangements (2021),
qualifying loan payments can be deducted as an allowable expense.
I would advise that it would depend on if you use either the Cash or Traditional Basis for your business. If using the Cash Basis, you would declare loan payments on a yearly basis, if using the Traditional Basis, then this would be declared as one sum in the same Tax Return.
Thank you.