Rental property

Rental property

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Hello could someone give me the reference in the legislation concerning repairs and renewals v capital of investment property works? Thanks

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By RetiredTax
15th May 2013 17:59

Repairs - Capital or Revenue

Maybe a good start is with the HMRC Property Income Manual with a look at :~

http://www.hmrc.gov.uk/manuals/pimmanual/PIM2020.htm 

Quite a bit of the "guiding rules" are the tax cases covering this topic and many are included in this paragraph, as are the references to legislation.

I hope this helps

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By ACDWebb
15th May 2013 21:49

They also provide one of their Toolkits

Property Rental (PDF 209K) that gives you further insight to their view and areas they consider to be problematic

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