Rental Income

The following are examples of expenses you may not deduct when computing your rental income or losses:

Pre-letting expenses, i.e. expenses incurred prior to the date on which the premises was first let apart from auctioneer’s letting fees, advertising fees and legal expenses incurred on first lettings,
Expenditure incurred between lettings in certain circumstances,
Interest in the period following the purchase of the property up to the time a tenant enters into a lease and after the final letting,
Post-letting expenses, i.e. expenses incurred after the final letting,
Capital expenditure incurred on additions, alterations or improvements to the premises unless allowable under an incentive scheme or incurred on fixtures and fittings,
Expenses incurred in the letting of premises on an uneconomic basis,
Expenses incurred on lettings that are exempt under the Rent-a-Room provisions,
Local property tax
You may not claim a deduction for your own labour,
A deduction is not allowed for expenditure that has already been allowed in computing your income for tax purposes, i.e. you cannot obtain relief more than once for the same expense

Any queries on same give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie