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  • RE: Renovation expenses - mix of revenue and CGT

    Hi, good morning. I wonder if you saw my question? I saw that other questions were answered, and wonder if you missed it. I have some time off and would like to submit my SA next week. Thank you
  • Renovation expenses - mix of revenue and CGT

    Hi, I have done renovation work on a rental property after 8 years of quite a neglectful tenant, meaning I needed to change things like to like (e.g. kitchen). I also took the opportunity to upgrade the property EPC - I would like to make sure I understand the two categories correct. Under revenue, I would like to include - new kitchen and bathroom, white goods, carpet, painting and decorating, replacing damaged laminated floor. Under CGT, I would like to include - insulation of walls and roof, new radiators, double-glazed windows throughout. Can you please comment on - Is the distribution correct? Do I include the estimated labour under each category separately? What if the resulting expense is greater than an annual rent income? Is there a way to account for loss of rent during the renovation? Thank you very much for your help.