Beginning and end of a rental business: commencement
Summary
Usually a rental business begins when letting first commences.
Allowable revenue expenditure incurred before the rental business begins can be relieved under the ITTOIA05/S57 or CTA09/S61 provisions for pre-trading expenditure.
Deductions: main types of expense
PIM2070
Advertising expenses
PIM2072
Bad and doubtful debts
PIM2074
Cash back on loans
PIM2076
Cost of providing services
PIM2078
Costs due to common ownership
PIM2080
Criminal payments, bribes and similar items
PIM2082
Entertaining expenses and gifts
PIM2100
Expenses for own home
PIM2105
Fees for loan finance and similar items
PIM2106
Fines
PIM2110
Insurance premiums and recoveries
PIM2120
Legal and professional costs
PIM2130
Properties not let at a commercial rent
PIM2140
Rates and council tax
PIM2200
Rent collection
PIM2205
Rent paid out
PIM2210
Salaries and wages of employees
PIM2215
Sea walls
PIM2220
Travelling expenses
Are my costs Capital or Revenue expenditure?
Beginning and end of a rental business: cessation
