Jan21

Hi, I've been renting my flat out to tenants and am now going to sell. After the tenants left, I had to arrange some redecorating and repairs, which we waited to complete until the tenants left, because it would have disrupted the tenants. (For example – repainting the kitchen floor, painting in the bedrooms, and painting and grouting in the bathroom/shower.) I have a couple of questions: 1. As I'll be selling the flat, is it possible to deduct the repair/redecorating costs against the rental income previously received? 2. If that's not possible, can I offset the cost of these works against my capital gains tax instead? If so, what kind of deductible category/expense would that fall under, since the work done involved repairs & redecorating? Thanks for your help.

Hi, I'm selling my flat and have some questions about CGT and about private residence relief. Here is the timeline for the flat: - I initially lived in the flat for a number of years. - The flat was then rented out to tenants for about a year. - After that, the flat was on sale for around a year but failed to sell. It was unoccupied during that time, and I was working and living in another city (over 300 miles away). - As the flat didn't sell, I rented it out again for a number of years until selling it now. I have some questions I'd appreciate your help with: 1. Does the year it was on sale when it failed to sell, when it was unoccupied (the 3rd point listed above), qualify for private residence relief, since I was working and living in another city? Or would that year not count, as the flat was rented out immediately before and after that period? 2. When calculating the number of months that qualify for private property relief, do you round up or down days to get to the total number of months when you don't have a full calendar month? 3. The building factors organised essential, communal, structural works to the foundation of the building, gutters, and shared back court. These were part funded by the council. Can the amount I paid for my share of these works be offset against my CGT when I sell the property? If so, which deductible category would these costs fall under? Thanks for your help.