expenses allowance in self assessment

[qian]

I was a student in 2005 and bought a property in that year. I had paid a legal fee in the process of the purchase. Later, I rent out the property in 2012 and I have received rent income since then. By law I am required to do self assessment tax return for 2011/2012. I would like to know if I can claim the legal fee occurring in 2005 as my expenses allowance.

[Clare@InTouch]

Were you living in the property in 2005 and up to when you rented it out in 2012? If so, then no. It's not an expense of the rental business you're now carrying out but an expense relating to your personal purchase of the asset 8 years ago.

[northernladuk]

Can you even claim expenses from 8 years ago????

[qian]

Thank you very much for your reply. I really appreciate.

[qian]

Thank you again, clare@InTouch.