Refurbishment of rental properties relief re capital expenditure

B

Bronte

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"Relief for refurbishment of certain rental properties from April 2001."

If you have a house and you convert it into flats is this capital expenditure allowed under the above relief. What exactly does the relief apply to - would it be putting in new windows/replacing bathroom fittings/new kitchen, etc Also it contradicts this bit of the reveue guide
  • "Capital expenditure incurred on additions, alterations or improvements to the premises unless allowable under an Incentive scheme "
Normally if you do capital expenditure to a property you can deduct it from Capital Gains tax when selling - not the rental income from letting is this relief a way around this?
 
Capital expenditure incurred on additions, alterations or improvements to the premises unless allowable under an Incentive scheme "
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I think this is in relation to Section 23, Section 50 etc
If you have a house and you convert it into flats is this capital expenditure allowed under the above relief.
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Capital expenditute is excluded
 
Thanks for that. In my reply I was going to add "unless allowable under an Incentive scheme" but as I had already answered the question I did not see the point
Quote:
Capital expenditure incurred on additions, alterations or improvements to the premises unless allowable under an Incentive scheme "
I think this is in relation to Section 23, Section 50 etc
Click to expand...
 
The point is that the Countrywide scheme applies to ALL rental property regardless of where it is, not just section 23, 50 etc.
 
I'll have a read of that and see if it's of use to me - thanks very much Nige. I've never noticed that info on the Revenue website before.
 
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