Rental Property Costs

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A client has income from a number of rental properties.  A new property has been added to the portfolio and is undergoing a full refurb.  Am I right in assuming that all costs relating to the refurb should be treated as capital - including redecoration, repairs to flooring, replacement windows.  There are also costs of utilities, council tax, service charges and clients mileage to and from the property whilst the refurb is taking place, would these be considered captial costs too?  The property will be let once the work is complete.  Thanks for your help.

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By Tax Dragon
03rd Feb 2019 18:05

Patrick UK wrote:

Am I right in assuming....

I don't need to read on. You're not right to assume anything.

A fairly introductory commentary is available here: https://www.gov.uk/government/publications/hmrc-capital-vs-revenue-expen...

Have a read and come back with questions that are not based on assumptions.

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