SMF - Just Installed!

Claiming expenses on home improvements

Started by hyatt45, July 03, 2020, 12:16:42 PM

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hyatt45

Hi All,

Im working overseas and renting my home out. The family who are moving in are requesting CCTV, bollards and a burglar alarm (the one installed doesnt work). They are happy to pay for the costs over time, say 4-5 years. But I have decided to install these for them as I was thinking to get these installed if my family return to the UK in the coming 12-18 months, plus the family have been through a few traumatic car jacking burglaries due to high end cars they own.

My question was are any of these cost deductible for tax purposes?

Over the years are there any home improvements i can make that are tax deductible. I dont own a portfolio of properties but was hoping the rental from the property goes above the 11K threshold

thanks

Simon Pambin

They sound like capital improvements, so you may be able offset them against the capital gain if and when you sell the property.