Hi,
I’m currently doing my first tax return. It’s not been the easiest thing to do as you can imagine.
I’ve made a loss on a rented property. The question I can’t seem to find a good answer to:
Are these things deductible for the first lease? I’ve put my best guess in brackets, which lines up with guidance.
* Landlord registration (y)
* Gas and Boiler check (y)
* Fees for setting up a lease (?)
* Key cutting for tenants and estate agent (y)
* Credit checks for tenants (y)
* Electrical check (y)
* Remedial to make safe (new RCD and new style smokes). (N)
* Check in/out inventory (y)
In the guidance the fees for the lease aren’t deductible for 1st lease over a year. But then I read something else that says if the lease is less than a year it’s deductible.
There’s a new tenants in. So I’ve put his lease as a cost.
I’m stuck with the wording. Any costs for the first letting or subletting if a property for more than a year. Does that mean it’s not been leased for a year prior. Or will he lease for a year. Does it include landlord insurance, registration, checks, credit check as above?
Thanks for any input on this.
J
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