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Posted Mon, 01 Jan 2024 17:03:40 GMT by noel inge
Hi, I own a furnished holiday let in Ireland. Before letting I spent significant sums on new furniture and electrical goods to bring it up to letting standard. 1. can I set these costs off against self-assessment income? 2. I refurbished the kitchen- how should that be dealt with in my self-assessment return? 3. Solar panels were installed which has improved the property: is this allowable against income? Thanks in anticipation of your guidancee.
Posted Wed, 10 Jan 2024 08:58:36 GMT by HMRC Admin 5
Hi

Please review the guidance at  PIM4140 (PIM4140 - Furnished holiday lettings: special tax treatment of furnished holiday lettings) as some of the expensses you are referring to, may be allowable, as the property is a FHL.  
If you qualify for capital allowances for the solar panels, have a look at the guidance at CA22335 for guidance on plant and machinery allowances.  (CA22335 - Plant and Machinery Allowances (PMA): Solar panels).

Thank you

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