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Posted Sun, 28 Jan 2024 17:55:26 GMT by
My tenant moved out 3 months into the financial year. I was unsuccessful at renting out the property and three months later, subsequently put the property up for sale. When completing my self assessment tax return, I assumed that i can only log expenses such as council tax, water rates, and mortgage interest payments, for the period up to the point we decided to put the property on the market. Any expenses incurred from that point forward, including mortgage interest payments, and not allowable for self assessment tax purposes. Can you confirm this is correct?
Posted Tue, 30 Jan 2024 11:07:36 GMT by HMRC Admin 8 Response
Hi,
An appropriate proportion of the expenses can be claimed as relief when computing the rental business profits.
You cannot claim those expenses from the time the rental business ceased.
Further guidance is available at:
PIM2010
Thankyou.

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