Rental expenses claim during the next tax year
By Alicia Human · Updated
If I spent more on maintenance of my rented granny flat than I earned in rent can I offset it over several years?
Can you kindly tell us what kind of maintenance have you had to do to the flat?
The maintenance was:
Painting of walls and ceiling, replacing stove hotplates, replacing wash line, sanding and re-varnish windows and doors, replace 1 door lock unit, repainting roof, repairing paving, carpet cleaning.
Regular services:
Garden services, Handyman labour for some of the above.
Other:
Installed a security gate and an extractor fan.
Painting of walls and ceiling, replacing stove hotplates, replacing wash line, sanding and re-varnish windows and doors, replace 1 door lock unit, repainting roof, repairing paving, carpet cleaning.
Regular services:
Garden services, Handyman labour for some of the above.
Other:
Installed a security gate and an extractor fan.
Yes you can claim them against your rental income but it can only be set-off in the year you incurred these expenses.
You are able to select on your tax return that you want your loss to be ring-fenced this will allow you to get the benefit of these expenses in the following your too.
You are able to select on your tax return that you want your loss to be ring-fenced this will allow you to get the benefit of these expenses in the following your too.