CG15201 - Enhancement expenditure: period before newly-acquired property let
If a property is acquired in a dilapidated condition, expenditure incurred in repairing it and putting it into a fit state for letting (including expenditure on decorations) may be inadmissible as a deduction for Profits of a Property Business, see PIM2020. For Capital Gains purposes, however, such expenditure as cannot be deducted in computing income may be regarded as allowable expenditure under TCGA92/S38 (1)(b).