Carrying Losses associated with property upgrade

kf1

Hi all
I am considering purchasing a house in need of considerable work (new roof, extension, complete insulation, etc).
If I plan on renting out the property when the work is complete, can I carry forward the loss associated with the current work. So say the work costs 40k and the property rents for 10k per year - on year 1, I would zero tax payable as the 10k income is more than offset by the refurbishment costs. Can I carry this loss into year 2 and year 3? If so, is there a cap on the number of years that losses can be carried?
Also, are there any restrictions on the type of work that can be offset against rental income?

I understand that refurbishment done before the first letting is not allowed for tax purposes. Capital improvements carried out during/between lets is allowed. The capital cost can then be offset against tax at the rate of 12.5% (i think) in subsequent years.

Lockedout2

Capital expenditure is not deductible from Income.

You may get the Home Renovation Credit.

An extension or new roof won't qualify for capital allowances. It will form part of the base cost for the purposes of CGT.