Beginning and end of a rental business: commencement
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
Bad and doubtful debts
Cash back on loans
Cost of providing services
Costs due to common ownership
Criminal payments, bribes and similar items
Entertaining expenses and gifts
Expenses for own home
Fees for loan finance and similar items
Insurance premiums and recoveries
Legal and professional costs
Properties not let at a commercial rent
Rates and council tax
Rent paid out
Salaries and wages of employees
Are my costs Capital or Revenue expenditure?
Beginning and end of a rental business: cessation