Lay My Hat

Dear follow owners, With the cost of heating my FHL in Arundel likely to go through the roof this winter I am considering switching to a residential let for 12 months from November. I have claimed capital allowances over the past 5 years I've owned the house and I wondering if I have to pay back the...

I had read something like this myself whilst researching the subject and it's certainly something to bear in mind. I suppose it depends on whether one wants to benefit in the short term without looking too far ahead or indeed whether there is an intention to keep the FHL operating for life?

I think often people misunderstand the difference between capital expenses ie. cost of things you buy once you own the property and some capital allowances, which are the value of integral features that are part of the cost of property when you originally bought it. Rosebud mentions that her Account...

Thanks for that Rosebud. That seems low enough for HMRC not to challenge. It will be interesting to hear other forum members experiences. Steyning, nice town too, not far from me!

Regards,

John

Dear all, I have just bought a property in Arundel and will, after some refurbishment works, begin holiday lettings next month. I am aware of most tax issues but I wondered if anyone had claimed CA's on the value of their integral features (value of heating sytems, lighting,fitted kitchens, bathroom...