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30 August 2011
RICHARD GREEN-WILKINSON looks at when fixes can be claimed against letting income
KEY POINTS
- Improving a dilapidated outbuilding.
- Deducting expenditure on repairs from rental income.
- Entirety or substantially the whole property.
- Notional repairs.
It is not unusual for country houses to have a barn stable garaging etc. separated from the house but within the curtilage and which are clearly part of the dwelling. These can however lead to some complications for tax purposes.
In the First-tier Tribunal case Christopher Wills (TC479) the taxpayer had income from property lettings. In his 2005/06 tax return he claimed £119 000 for repairs and renewals on The Old Rectory which HMRC...
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