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Where Taxpayers and Advisers Meet
Timing of revenue expenditure
I have had to have fairly substantial repairs done on a property. The quote arrived in March and estimated work was to begin in 1-2 weeks and to take 3-4 days. As a result all work was to be completed in tax year 16/17. A 25% deposit was required to secure the work. Circumstances out with our control (tenant giving birth) meant that work was delayed and not completed until June of this year, with the remaining 75% payable at that time. The question - can I claim the 25% deposit in my tax return for 16/17, with the remainding 75% in 2017/2018. This would suit as in 17/18 my personal allowance will mean I won't be liable for tax.
Re: Timing of revenue expenditure
Sorry, I should have said that any help would be much appreciated! I am usually more polite...
