Garage Renovation for self employment?

[blackcandle]

Not sure if this question should be asked in the Property section or Money section.

I want to apply for a loan to renovate my garage into a treatment room for my therapy business. I then of course have to pay the bank every month that is instead of paying rent to a landlord. .

A rent is a business expenditure so I want to know if I can get tax relief from a renovation loan?

Can the loan + interest be classified as expenditures?

Because the purpose of the renovation is purely for my therapy business.

Would anyone share their experience or knowledge please.

You’d likely need change of use permission from your local authority…also check with your mortgage company (if you’re mortgaged) if it’s within T&Cs of your product. Home insurance too. Can your liability insurance be transferred? All additional costs you may need to consider.

Thanks, i dont have a mortgage. I m thinking a home improvement loan.

Are you a sole trader? I think renovation would be classed as capital expenditure, so you wouldn't be able to claim the costs as an expense (capital expenses for plant and machinery have their own rules) but I think you could claim the interest on the loan.

It's quite a while since I've looked at tax returns, so I may have misremembered.