Can I deduct my time as an expense if I perform emergency repairs?

Can I deduct my time as an expense if I perform emergency repairs?

9:27 AM, 8th November 2017, About 7 years ago 12

Text Size

My tenants arrived back from hols to find water pouring in through a leaking roof vent down via a 9inch pipe connected to an en suite extractor fan.

I couldn’t get a local trades person to attend despite spending a full morning of calling. My tenants have and continue to be brilliant, but despite their understanding I felt obliged to fix the problem, not wanting it to get worse for them and me.

I was able to fix the vent, refit and insulate the extractor vent. The materials cost was approx £65, which I’m confident is an acceptable and permissible expense.

But what about my time and labour? It was a 40 mile round trip to do the first inspection, then a morning spent buying materials, a second 40 mile trip then a couple of hours performing the repairs.

If possible what would be a reasonable cost? Base it on getting a quote from a trades person?

Any help and advice gratefully received.

Thanks

James


Share This Article


Comments

James B

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

14:17 PM, 8th November 2017, About 7 years ago

Reply to the comment left by Graham Bowcock at 08/11/2017 - 13:59
Thanks Graham, makes sense. Echoing Neil’s time is profit comment. Much appreciated.

steve watt

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

21:56 PM, 9th November 2017, About 7 years ago

Reply to the comment left by Gabriela S at 08/11/2017 - 11:29
This is a perfectly good practice as long as rates so unreasonable as to be challenged by HMRC. You still need to need enough net property income to allow the 20% tax credit arising from interest paid to be offset against income tax relating to the property (because this tax credit cannot be used to offset other income tax)

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Automated Assistant Read More