Paul_HDLover
Prominent Member
Hi All, boring tax question alert.
Lets say after calculating all my incomes for this year I am due to pay £5k to HMRC, this includes my salary and income from my second property + interest on my investments less tax allowance, less mortgage interest (2nd property etc).
Ive got a situation in the property i rent out where by the boiler has been really causing problems for the last 2 years. We have spend a fortune on repairs and many hours waiting in for repairs. Im thinking about getting it replaced with a new model as there is a gap in tenancy about to come up.
My question is, assuming my tax due for this year i.e. 2013-2014 is forecast to be £5k, would the cost of the boiler - lets say £3k be deducted from the tax due figure as it is an expense on a second home?
Someone told me that it would be along with any other expenses on that property but this seems strange to me. Basically I could pay HMRC £5k or I could pau them £2K and get a new boiler in the flat. Seems a no brainer if tht is the case.
Thanks for any help you can offer.
Lets say after calculating all my incomes for this year I am due to pay £5k to HMRC, this includes my salary and income from my second property + interest on my investments less tax allowance, less mortgage interest (2nd property etc).
Ive got a situation in the property i rent out where by the boiler has been really causing problems for the last 2 years. We have spend a fortune on repairs and many hours waiting in for repairs. Im thinking about getting it replaced with a new model as there is a gap in tenancy about to come up.
My question is, assuming my tax due for this year i.e. 2013-2014 is forecast to be £5k, would the cost of the boiler - lets say £3k be deducted from the tax due figure as it is an expense on a second home?
Someone told me that it would be along with any other expenses on that property but this seems strange to me. Basically I could pay HMRC £5k or I could pau them £2K and get a new boiler in the flat. Seems a no brainer if tht is the case.
Thanks for any help you can offer.