I've not run any rental properties in about a decade so I'm rather out of touch.
In the event I want to fairly extensively refurb a property before starting to let it out privately, bit of remedial repairs, decorate throughout, maybe kitchen/bathroom and carpet throughout can I offset those refurb costs against the rental income?
I understand that mortgage interest costs can be offset against the rental income, but I'd like to be sensibly tax efficient.
Obviously I've no intention of running this or future properties though my contracting business, just doing some on the side BTL stuff, I know there's several posters with a lot more recent BTL info so I'd appreciate any advice.
In the event I want to fairly extensively refurb a property before starting to let it out privately, bit of remedial repairs, decorate throughout, maybe kitchen/bathroom and carpet throughout can I offset those refurb costs against the rental income?
I understand that mortgage interest costs can be offset against the rental income, but I'd like to be sensibly tax efficient.
Obviously I've no intention of running this or future properties though my contracting business, just doing some on the side BTL stuff, I know there's several posters with a lot more recent BTL info so I'd appreciate any advice.
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