rental property but no tenants

No. You can set rental losses only against rental profits. Worse, the rental business would not be deemed to have started until you had your first tenant.

If you just "decide" to have it re-roofed, that would not qualify as a repair, but would be an improvement. You can set that against capital gain, but not against income.

If it were a genuine repair, necessary to be able to continue letting it, yes, it would qualify as a repair, but you'd still need income against which to set it.

If it looks like a scam, it is a scam, and it will not be pleasant to find yourself at the receiving end of a tax fraud investigation, so don't even think about trying it.

If you actually rent the house, it's unlikely you need to worry about CGT before six years are up, unless the gain is phenomenal.

Should make no difference.

No it wouldn't, you just need to be judicious with your accounting.

It's certainly unwise to run a rental business without any tenants.

I use an offset mortgage no problem. If you use one offset mortgage for both properties you may need to make some formal declaration as to the split - I forget. The method's been discussed before on The Motley Fool forum and, I daresay, on here.

Use Rightmove and local newspapers to get an idea of rents.

If no-one want's to rent your house, it's because it's offered at too high a price.

I wouldn't keep hold of it as I believe we are near the top of one the markets periodic peaks.

Previous BTL threads here

These are the experts - The Motley Fool - Property Investing - Practical forum - .

Links and info. on my webpage

Although beware the quality of advice given on the Landlordzone forum.

Daytona (Landlord & tenant, not a lawyer)

Thanks for your comments.

Ok - thats the main point answered. So even if I am a 40% tax payer then I will pay 40% of the net profit - full stop.

I used this example as I think it will need to done in a year or so.

I have an interest only (with ISA) mortgage previously, so I can see the interest charges and capital payments being made - just wasnt sure how that worked with offsets - more reading for me...

btw - It do intend to let it, my questoins were consideration of worst case...(not scam case!)

thanks again j

Yes, but fortunately there is no NI to pay on top, since rental income, like savings interest, counts as "unearned".

Then you could get lucky. If the rental business is active at the time (which needn't mean there is a tenant in residence at the time, but if not there needs to have been one there before and probably afterwards) it means you could get the repair (or part of it) paid by gross rental income instead of from your own after-tax resources.