Pre-letting expenses

Postby Mr Clean on Tue Jun 01, 2004 8:00 am

I relocated overseas for work and we have let the family home. In the three months prior to leaving we incurred expenses relating to decorating the interior (to neutral colours, to help let the property) and had all the exterior woodwork painted. We also incurred expenses on obtaining a Gas certificate, installation of additional smoke alarms, a new fuse box and an Electrical inspection report.
A tenant moved into the property the day after we left the UK and that was the commencement of the rental business.
After reading IR150, it appears that we may be able to claim relief for the pre-trading expenditure. Does the fact that we were still occupying the property whilst the decorating etc was carried out make any difference?

Also the property is let on a part furnished basis ie. provision of white goods, carpets, curtains, dining table and chairs. We did not provide beds,sofa, crockery, cutlery etc Therefore, am I correct in thinking that we cannot claim any wear and tear allowance and that any future expenses will need to be claimed on a renewals basis?

The sums involved are not huge, but in the first year I will pay tax at 40% because of the split year, therefore any advice on the pre-letting expenses would be welcome.
Thank you.
Mr Clean
 
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