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I have a client with significant capital allowances still available on a rental property, €28k (only 1 year of capital allowances was claimed hence it is still a high amount left to claim) He has moved back in to the rental property on 31-Dec-17 so I am doing the 2017 last year of accounts for the rental income. Rental income received was €22k. Can I take a full balancing allowance for the balance of €28k capital allowances against the 2017 rental income. Or is this balancing allowance not available if an owner moves back to the property and ceases the rental trade that way (as opposed to selling the property to cease).

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Asked on 23 July 2018 7:53 pm