HMRC Suffers Defeat over Tax Deduction on Landlord Repairs
Landlords won an important victory over HM Revenue & Customs when the organisation was forced to back down over their challenge of tax deductions for repairs that were part of a refurbishment project. The ruling confirmed a landlord’s right to offset the cost of legitimate repairs against rental income, even when they are part of a major refurbishment or rebuilding project.
Victory for David over Goliath is rare but when it happens it has big consequences.
Glenn says “this is great news for anyone involved with property investment”.
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