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  • Tax

    Furnished Holiday Let - Buying Furniture Before Completion

    Hello

    I am buying a holiday let but will not complete for a few weeks. I have started buying furniture now in the sales. Will I still be able to offset the cost of the furniture even though I bought it before owning the property?

    Thank you
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    Hi Rob,

    My answer would be "yes".

    Remember, no human eye ever looks at your tax return. It is all done by computer.

    Should your tax return be selected by a computer for investigation because of some parameter that has been breached, a human will contact you.

    Provided you have kept accurate records and can prove this furniture was for the holiday let, then I cannot forsee there would be a problem.

    If there was, they would simply revise your tax calculation and you would owe a some extra tax.

    So my advice is put it through and keep accurate records, should you be questioned later.

    Hope that helps?
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