This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Buy to let tax

oldenss
Posts:10
Joined:Wed Aug 06, 2008 4:03 pm
Buy to let tax

Postby oldenss » Tue Apr 12, 2022 8:25 pm

I have two properties which I rent out. One now is in need for refurbishment which will take at least year (doing the work myself between other work). During the the time I am refurbishing the property I will have to pay council tax on that property. My question is, can I use this council tax as an expense against my other property I let?

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Buy to let tax

Postby bd6759 » Wed Apr 13, 2022 11:05 am

Regardless of the number of properties you have, you have a single UK property business. All the income and expenditure from that business are pooled.

So yes, as long as the property you are refurbishing remains part of your business*, all revenue expenses can be included.

(* It will stay part of your business if it is your intention to rent it out once the refurb is completed.)

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Buy to let tax

Postby pawncob » Wed Apr 13, 2022 11:12 am

Letting is a business, so expenses can be offset against other property income.
With a pinch of salt take what I say, but don't exceed your RDA


Return to “Property Taxation”

cron