Landlords Deductible Expenses

Published by Richard on August 19, 2014August 19, 2014

Allowable expenses a landlord can claim

The most common types of expenses you can deduct are:

water rates, council tax, gas and electricity (if incurred)
maintenance and repairs to the property (but not improvements)
contents insurance
interest on a mortgage to buy the property
costs of services, including the wages of gardeners and cleaners
letting agents fees
legal fees for lets of a year or less, or for renewing a lease of less than 50 years
accountant’s fees
rents, ground rents and service charges
direct costs such as phone calls, stationery and advertising for new tenants
The expense should be incurred wholly and exclusively as a result of renting out your property.
Motor expenses at 45p a mile (evidenced with petrol receipts) – for journey’s to visit the property.

How We Can Help You

There is no substitute for specific advice in your own situation when it comes to buy to let property. Please contact us at enquiries@richardpriceaccountancy.co.uk or ring on 07775 864487