OK, so now I am a landlady.This is so not me!
Bad luck has meant we are now renting out our house and renting another in the area we are moving to rather than selling up.
I know we have to pay tax on the rental income, and are treated as if this is a business (although it isnt)but I am confused about what can be offset against tax for maintenance/repair.
When we realised we would have to let rather than sell we agreed to change a very threadbare carpet. We also need to do some repairs to the roof and in the roof space that we only discovered needed doing because of our prospective buyer's survey.
Can we claim those against tax? We are not out to make a profit here, we plan to only rent for 1 year are just trying to break even.
Please or to access all these features
Please
or
to access all these features
Join our Property forum for renovation, DIY, and house selling advice.
Property/DIY
Renting and tax ? Clueless... help!
5 replies
unavailable · 09/07/2009 22:45
OP posts:
Please create an account
To comment on this thread you need to create a Mumsnet account.