In most cases you do get reliefs such annual investment allowance, write down allowances but not on property, you also can't claim most of the fees that are involved either (solicitors, agents, searches etc) as they form part of the cost of the asset and are capitalised.
Some repairs and renewals can be claimed to bring it to rentable condition but again you have to be a bit careful, as some repairs may be deemed as improvements, or additions and should be capitalised also
This link is to a page on the Business Link website
