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Is Interest on Capital Expenditure Deductable Against CGT?

Question I bought a very run down property and spent some time bringing it up to a standard whereby I could rent it. So, in addition to the actual costs can I also claim interest paid on the loan for the original outlay, and then all the works thereafter?

Arthur Says:
Interest is not allowable as a capital expenditure against CGT (See page CG15284 on the Revenue Capital Gains Manual). However, you should be able to claim the interest as an allowable revenue expense against your rental income.

See page PIM2105 on the Revenue Property Income Manual where it says: "interest payable on loans ........ to fund repairs, improvements or alterations, is deductible in computing the profits or losses of the rental business in the same way as other expenses."

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