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Posted Wed, 15 May 2024 14:45:41 GMT by Hana Bayat
I have bought my rental property in December 2023. It was under the repairs from Dec 2023 to April 2024. Do I need to do the tax return for the tax year of April 2023-24? In spite that the property didn't have any rental income during that months. Can I claim the cost of repairs which occur between Dec 23 to April 24 in tax return of April 2024-25? Thanks
Posted Fri, 17 May 2024 15:22:44 GMT by HMRC Admin 25 Response
Hi Hana Bayat,
As long as you meet the conditions here:
PIM2505 - Beginning and end of a rental business: commencement
You will just include them in the same tax year that the first rental income was received.
Thank you. 


 

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