property income – pre-trading expenditure

This topic has 1 reply, 2 voices, and was last updated 15 years ago by Tax Tutor.

Viewing 2 posts - 1 through 2 (of 2 total)

Author

Posts
May 23, 2011 at 6:10 pm #48567
susu123
Member
- Topics: 21
- Replies: 17
Emma bought a house 2 years ago. The house’s wallpaper was dated and Emma removed the wallpaper, replastered and painted the wall, which cost her £2000. She then rented it out from 6/4/2010. Is the £2000 revenue expenditure? Only revenue expenditure can be treated as pre-trading expenditure. Is that right? Thanks.
May 24, 2011 at 9:12 am #82179
Tax Tutor
Member
- Topics: 2
- Replies: 3960
Yes revenue expenditure incurred up to 7 years before the rental activity is pre trading expenditure so is deductible
Author

Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.