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Repairs vs W & T Capital allowance Residential Rental

  • 08-11-2017 6:52pm
    #1
    CGI_3
    Registered Users, Registered Users 2 Posts: 303 ✭✭


    How would you treat the following:

    These feel like 12.5% W & T to me, but what's the norm:

    Re-tiling a bathroom. circa 500 EUR
    New floor Lino Circa 250
    Insulation topup (blown into walls and attic increased) Circa 700
    New Kitchen Circa 2000
    New Gas Boiler 1750

    I just put the values in case it directs the thing towards repairs...


Comments

  • #2
    exaisle
    Registered Users, Registered Users 2 Posts: 2,676 ✭✭✭exaisle


    CGI_3 wrote: »
    How would you treat the following:

    These feel like 12.5% W & T to me, but what's the norm:

    Re-tiling a bathroom. circa 500 EUR
    New floor Lino Circa 250
    Insulation topup (blown into walls and attic increased) Circa 700
    New Kitchen Circa 2000
    New Gas Boiler 1750

    I just put the values in case it directs the thing towards repairs...

    Re-tiling, replacement of lino and replacement of the gas boiler are all "repairs".

    New kitchen is a fixture so claim 12.5% wear and tear on that.

    Insulation is an improvement to the structure, so probably not claimable either way, but you can include it if/when you sell the property to reduce your CGT liability.

    By the way, re-tiling, insulation, the new kitchen and gas boiler would, I think, all be claimable under the Home Renovation Incentive so you'd get the VAT back as tax credits over the following 2 years...I hope you claimed...


  • #3
    CGI_3
    Registered Users, Registered Users 2 Posts: 303 ✭✭CGI_3


    Boiler I've put in as Capital, W and T, because it's no different to say a washing machine I would have thought.

    Insulation is 2017, so needn't worry just yet. I'm thinking I might put down as a repair as existing insulation deficient / absent.

    As for the HRI, fitted the Kitchen and tiling myself, The boiler fit would have ended up costing the same, but the added hassle of admin, and as for the insulation, isn't there some threshold of expenditure anyway?


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