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

Capital allowance

kanrent
Posts:119
Joined:Tue Dec 16, 2014 8:20 am
Capital allowance

Postby kanrent » Tue Sep 14, 2021 5:55 am

Hi I recently did some improvements to my rental property (not repairs), can anyone tell me how I claim for these improvements?
Do I have to fill in box 35 sa105 or mention the improvements on my annual property pages self assessment.
Or do I just keep the recipes and claim from my CGT when I sell the property.

Jholm
Posts:360
Joined:Mon Mar 11, 2019 4:22 pm

Re: Capital allowance

Postby Jholm » Tue Sep 14, 2021 9:26 am

Most likely costs to be used for capital gains tax upon future sale/transfer.

However, what are the works specifically?

Please note capital costs for CGT and capital allowances are two different things.

kanrent
Posts:119
Joined:Tue Dec 16, 2014 8:20 am

Re: Capital allowance

Postby kanrent » Tue Sep 14, 2021 2:36 pm

specifically its a fitted kitchen where there was no kitchen before just a table
And a fitted carpet where there was no carpet before just sanded and varnished floor boards.
I was advised my the letting agent to have this property modernised so I could rent it out.
Really my question is do I have to mention those things on my annual tax return
Or wait until I do an assessment for CGT


Return to “Property Taxation”