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Sam, Accountant
Category: Tax
Satisfied Customers: 14154
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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7 years ago I bought a ski apartment in Bulgaria. I paid £2300

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7 years ago I bought a ski apartment in Bulgaria. I paid £2300 deposit and borrowed on a personal loan the remaining £15000. The rental income is very poor, this year was £403 in total
I pay £ 650 per annum to the complex, £210 to the agents and £ 40 in tax to the mayor
My loan payment is £ 340 per month
am I right in thinking I can claim the interest on the loan payments against my uk tax?
is there anything else I can claim against on the various payments I make for the apartment?
Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer.
You are correct that the interest element of the loan to make this purchase, is indeed an allowable cost to offset against the rental income you earn.(But just for the time that you actually have renters in the property - so for example m- if you rented out for 2 weeks, then you could only claim interest x 2/52 weeks)
You can also claim for advertising the rental, any cleaning (after its been let out) any insurance on the property (perhaps you have contents) also 10% wear and tear for the furniture (105 Of gross rents)
How about heating and lighting? Again this needs to be restricted for the time you actually rent it out.
These are the main costs - but let me know if you spend out anything else, for the rental - that you feel has not been covered here.
Also let me know if you require any further assistance
Customer: replied 2 years ago.

Thanks, ***** ***** given what I read on google...never believe it just because its on the web I guess

how many years can I back date this for?

Google is not HMRC legislation sadly - which is what counts - if you were to let all year round then you could have the full costs - but you advise you did not (with just £403 rental income for the year) and I would assume you make use of this chalet too - so personal use would also create a restriction.
You can go back 3 years - and would need to amend your self assessment tax returns to claim these additional amounts.(You may find if you use HMRCs online services that you can only amend back to 2013/2014 - if this is the case, then write in to request the appropriate amendments for the earlier two years - 2012/2013 and 2011/2012)
Do le tme know if I can be of any further assistance, but it would be appreciated if you could rate the level of service I have provided (rather than rate the fact the answer was not what you hoped would be!) or click accept, as this ensures Just Answer credit me for my time
Thanks and sorry the answer was not more favourable.
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