Deductible expenses for landlord

This video shows how to optimize your rental property finances with 20 deductible expenses for landlords. Discover how to navigate allowable expenses, following the “wholly and exclusively” principle set by HMRC, ensuring your purchases are solely…

5 Minute Read

Last Updated: 11th April 2024

This video shows how to optimize your rental property finances with 20 deductible expenses for landlords. Discover how to navigate allowable expenses, following the “wholly and exclusively” principle set by HMRC, ensuring your purchases are solely for the property’s rental purposes.

We cover repairs and renewals—distinguishing between everyday maintenance and capital improvements and operational costs such as utilities, insurance, and management fees. This video covers the essential expenditures that can reduce your taxable rental income.

Delve into the specifics of deducting mortgage interest. Understand the distinction between furnished holiday lets, and other residential lettings.

Admin-related expenses like legal fees, accounting services, and advertising costs are also covered. We explain transportation costs associated with property management, including the potential for claiming vehicle and fuel expenses.

This guide serves as a comprehensive resource for landlords seeking to maximize their tax efficiency while maintaining strict adherence to HMRC guidelines.

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Blog content is for information purposes and over time may become outdated, although we do strive to keep it current. It's written to help you understand your Tax's and is not to be relied upon as professional accounting, tax and legal advice due to differences in everyone's circumstances. For additional help please contact our support team or HMRC.

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