Pre-letting expenses – Rental property
To encourage owners of a vacant residential property to bring that property into the rental market, a new deduction was introduced in last years budget for pre-letting expenses (ie expenses incurred before renting out) of a revenue nature incurred on a property that has been vacant for more than 12 months.
A cap on allowable expenses per property will apply and the relief will be subject to a clawback if the property is withdrawn from rental market within 4 years.
Up to now you could not claim for doing up the rental property such as painting etc if it was incurred before the tenant moves but now if the property was vacant for more 12 months you can
Subject to qualifying conditions
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