Tax deduction q, trying to budget! Window tax deductible

[YoniWheretheSunDontShine]

Bless you if you can help and read this .

I have a rental property and paid 3 grand for a huge new window.

The income is 8grand
How much can I deduct from this please.

It really depends whether you replaced the old window with same type of window because it was broken or beyond repair or if it was an improvement to the property. The first is entirely deductable against rent, the latter is not (but would be deductible for Capital Gains eventually).

Oh thanks!
@Plantstrees

Yes the old window was totally unrepairable.

Then you should be able to claim it all against the rental income.

From my reading the only information I can glean is that it's definitely deduction but I cant see by how much

www.gov.uk/hmrc-internal-manuals/property-income-manual/pim2020

It's all or nothing! 100% claimable like any other expense incurred in managing the property.

Thanks plants..

So if I pay around 1400 tax on the property what deduction would I get.
From your posts it's seems I would pay no tax that year?

If you make 8k in income you can deduct the 3k for the window off that. Plus any other expenses such as landlord insurance, gas safety check, other repairs etc. You then pay tax on the amount left

So taking your example 8k-3k is 5k. You pay tax at your rate on the 5k. So at 20% that is £1000. Or 40% is £2000. It’s not quite as straightforward as that, but that’s the general way it works

@Caterina99

Thank you..
I'm 20% so it looks like I might save the grand sum of £400?

I assume you normally claim the £1000 expense allowance for the property and nothing else. Which makes your tax 8k-1k=7k x 20% = £1400

If you claim 3k for the window you cannot claim the £1000 allowance as well, but you can claim for any other expenses you’ve had in the year like I said above.

So yes you will save tax of between £400 and £600 depending on the other tax deductible expenses for the property

Hope that’s helpful!

@Caterina99

Hugely helpful yes!
There are no other deductions.

I really wanted a rough idea of what I should have saved to pay the tax this year,minus the window..

This is very helpful to give me a rough Idea.🙏