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We've a rental property that we, er, rent out...
I'm comfortable ofsetting cost of maintenance/repair costs against the net profit, as it's specifically related to the house.
What I do question is the ability to offset a replacement PC purchase (we're talking a few hundred quid here) in order to continue to run our little operation - finance spreadsheets, contacting tennants, advertising etc etc.
What have other landlords done? Offset a portion against profit, or does that get too complicated??
Cheers,
DrP
Is the PC a business asset? i.e. was it purchased solely for the use of the business.
as your post suggests that it wasnt......the correct way is to identify what percentage use of the pc is for the business and what the remainder is for and apply a financial value appropriate to that.
Just add it into costs (one-off), end of.
if you've just got one property i.e. you are not operating it as a business (as a pose to a second source of income) you can't claim for the PC, not least as it's pretty simple keeping track of outgoings / income on a single property just with paper records.
I've just bought laptop for my 2nd income through my business, I was advised to change it every 3 yrs as an allowable expense.