Flikster
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FHL pre-trading expenses
Hello - I'm renovating a property to let as an FHL. Renovation expenditure has taken place in the previous and current tax years, and will take place in the next tax year as well. The property is not currently an FHL. It will only be ready to let in the coming tax year ie after the rule changes on April 6 2025. Will the rule changes alter how these pre-trading expenses can be claimed? Will it make a difference whether they are revenue or capital expenses? And does it make a difference whether a property was already in a lettable state? Thank you for your help.