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Posted Mon, 11 Sep 2023 14:58:22 GMT by
I’m self-employed. I purchased a house at the end of March 2022. I use a room for my work. My first question is whether I can claim part of legal fee & surveying fee arising from the property purchase. My second is whether I can claim during this taxation period 2022-2023. Many thanks!
Posted Tue, 19 Sep 2023 12:57:24 GMT by HMRC Admin 19 Response
Hi,

Expenses incurred in the purchase of a property cannot be claimed as deductions when calculating your self employed income. Such expenses are however allowable for Capital Gains Tax purposes, if, or, when the property is sold and there is a Capital Gains Tax liability. You can see guidance here:   

Expenses if you're self-employed                                

Simplified expenses if you're self-employed

Thank you.

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