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A company bought a commercial premises with a view to renting it out. Owns the property for 3 years now and to date has been unable to rent it and is incurring expenses on it such as electricity and rates.As of Dec 17 has incurred approx 25k exps as this has been backed out of the normal ct comp Q's 1. is this a rental loss and can it be c\f against future rental profits given that the property has yet to be rented out. 2. Could it be offset on value basis against trade profits thanks.

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Asked on 1 May 2018 5:09 pm
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1. It is pre-letting expenditure, not deductible
2. no

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Posted by (Questions: 5, Answers: 5252)
Answered on 17 May 2018 1:02 pm