Self-Assessment for BTL without a Tenant

[Matt Allen1]

Hi

 

If there anyone who has experienced buying a BTL property which you have then renovated during a tax year (so not rental income), and then not rented it out until the following tax year and what should be declared on the HMRC online self-assessment?  Obviously rental income is £0, but i have expenses related to utilities, council tax, agent fee's, conveyancing fee's, insurance, repairs/maintenance etc...

 

Thanks!

[Debbie Franklin]

I assume that you have no income producing btls so you put nothing at all you carry all the expenses forward and claim them in the year that you first receive income as pre trading expenditure 

[Matt Allen1]

On 5/30/2019 at 6:54 PM, debbie franklin said:

I assume that you have no income producing btls so you put nothing at all you carry all the expenses forward and claim them in the year that you first receive income as pre trading expenditure 

No other income producing BTL.

 

Ok so no value in putting them in the 2018/19 tax return?

 

So in terms of the self-assessment I leave the property section blank and dont even complete it?

 

What about the interest mortgage BTL mortgage payments I've been making since November 2018?

 

Thank you!

[Debbie Franklin]

no property pages at all

expenses including mortgage interest all brought in when property first let

deb

[amasonestates]

Personally I declared this as a cost in my 1st year and carried a loss into the 2nd year, which subsequently sorts itself out.

However that was 10 years ago and rules etc. may have changed.