Major repairs to a let property – What is deductible?

The nature of buildings is such that it may be necessary to undertake significant repairs, such as the replacement of the roof, or even underpinning the property in the case of subsidence. Where the property is a let property, the landlord will doubtless be keen to secure a deduction for the costs that they incur.

Capital or revenue

In determining whether a deduction can be made in calculating the rental profits, it is necessary to ascertain whether the repair is revenue or capital. This will not always be clear cut.