I am a private landlord - renting my flat out while I'm working away for a few years. I don't want to let the flat out fully furnished, due to the extra complications that brings. Am I able to deduct the costs of storage from my tax liabilities?
Arthur Weller replies:
In theory, this appears to be an expense of renting out the property. However, HMRC are likely to disagree and say that this is a personal expense that does not relate to the property business. The furniture has never been used in the business until now.