What expenses can landlords claim?
The thing to remember when it comes to expenses is that all items claimed must be “wholly and exclusively” used for the purposes of your property rental. Examples of typical expenses a landlord would usually incur would be:
- Fees paid to letting agents
- Certain property repairs, renewals, and overheads
- Money spent travelling backwards and forwards to properties
- Water rates
- Utilities concerned with light and heat
- Council tax
- Mortgage interest
- Accountancy fees.
This last one is particularly important as it means that any money you spend on your financial consultancy is mainly tax deductible.
It is our job at Perrigo Consultants to make sure that our landlord clients are claiming everything to which they are entitled. Everything we do is specifically aimed at helping you manage tax issues arising from your property rentals and we strive to keep the process as simple as possible. We can come to you to meet you in person or if it’s more convenient, we can gather all the information we need over the phone, skype or by email.
We provide a fixed-fee, competitively priced tax return service with an efficient turnaround.