New bathroom tax deductible question

Resurrecting an old thread but it is very interesting to me currently. You mention "generally" here. What pre-letting expenses can be deducted from taxable rental income? Do LL's really wait until tenants are in situ before doing the place up (lick of paint, minor remedial works etc)? I can't imagine too many tenants would be willing to accept that. I would be interested to hear how LL's approached this?


Pre-Letting expenses (i.e. expenses incurred before the property is rented out for the first time) are not allowed except for property fees such as management fees, letting fees and legal fees for the setup of a lease and certain expenses incurred in respect of vacant residential properties. Therefore, interest paid on borrowings before the first letting of property commences will not be allowable as a deductible expense. Expenses incurred between lettings are allowable provided the property is not occupied by the landlord during the vacant period.

For previously vacant properties, expenditure up to €5k per property can be incurred but there are specific conditions and potential clawback if the property is sold. This is a recent addition to the tax code aimed at bringing formerly dilapidated premises into the housing stock.


One grey area is items of furniture/functional capital items left in the property in the course of the letting that the landlord may have originally purchased for personal use long before letting. Revenue have not specifically commented on this (I don't think). Arguing that a periodic allowance can be claimed by reference to the remaining market value of the items at the commencement of letting might seem logical, but can it be contended that the expenditure was incurred wholly and exclusively for the purposes of the letting? If not, then it's not a good position on first principles.
 
Do Pre-letting expenses cover furnishing the place?

In context of Grasshopper, he is going to let out his current PPR as he is buying a house with his wife. I assume rather than buying new furniture for his house he should take the furniture from his PPR. Then buy new furniture for his PPR (Rental Property) in which he can depreciate over 8 years reducing his tax bill? Or would he not be able to if he buys furniture before the lease starts?
 
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I claimed capital allowances on my own stuff when I moved out. As an example, I had a couch which had originally cost me over €2k. I kept the receipt, deemed it to be worth €800, and claimed €100 a year over 8 years. A reasonable approach in my view replicated across a number of capital items.
 
I claimed capital allowances on my own stuff when I moved out. As an example, I had a couch which had originally cost me over €2k. I kept the receipt, deemed it to be worth €800, and claimed €100 a year over 8 years. A reasonable approach in my view replicated across a number of capital items.
Same here, and revenue were happy as I asked them we left a bit more but it was accepted.
 
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