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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11751
Experience:  30 years as a practising solicitor.
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My husband and I have just bought a buy to let property.

Resolved Question:

My husband and I have just bought a buy to let property. Are there any expenses we can offset from this against my husband's capital gain this financial year of £ 70k? EG. Paying an agent's letting fees before 6 April?
Submitted: 1 year ago.
Category: Law
Expert:  JGM replied 1 year ago.
From what you say, the capital gain related to the disposal of different assets. You can't offset against a different asset so the answer is that you can't offset letting agents fees.
Customer: replied 1 year ago.
How about commission charges to agents who sold contents of the house (husband's mother's) which was the asset that attracted the capital gain? And refurbishment costs of the house carried out to sell it? The property was sold some time after the probate valuation as work was needed to get it up to standard. This caused an increase in the value of the house. Thank you.
Expert:  JGM replied 1 year ago.
Thanks for your reply. Yes, the refurbishment and disposal costs are allowable. The sale of the contents involve the contents, not the house itself. If the contents are included in the gains for the relevant tax year, the costs of sale can be deducted.
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