When it comes to rental properties make sure you don’t fall for any of the common tax mistakes people fall for this year.
Here’s our top ten tips for you to ensure your claims are successful –
- Always keep evidence to support your claims, like your receipts.
- Make sure your property is genuinely available for rent, using it as a holiday home for a period of time each year affects what you can claim.
- Be aware that initial repairs and improvements CANNOT be claimed in full in the year the expenses are incurred.