Tax advice

Other

We currently let out two properties one is a basement flat within our own home (which we built ourselves) and another a separate property. Typically we complete our own short from self assessment form and with HMRC guidance are able to complete this, however this is the first year we have completed the assessment for the basement flat and in need some specific advice in respect of costs/reliefs in this situation.

In addition the freeholder of the other property has undertaken improvement works to our other property, comprising external cladding and insulation and new external doors, we anticipate an invoice for £15000 shortly for this work (this may or may not be received this financial year).

I'd like to know whether and how I can claim/offset any of the following:

1. Mortgage payments/interest n the house/basement flat
2. Construction costs of basement flat
3. Initial fit out (fixed items) and furnishing (removable items) costs of the basement flat
4. Mortgage/ loan payments on the freeholder improvements
5. Cost of freeholder improvements

I appreciate the detail of this may be beyond the advice available within our subscription to the RLA but would be grateful for any guidance that can be offered, including direction to the relevant HMRC notes or contact to quality and authoritative tax advisers.

Many thanks