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What expenses can I claim against my rental property?#AskAMS

Reduce your tax bill through allowable expenses on rental property income.
Here is a list of tax deductible expenses that you can claim against your rental property income.

1. Mortgage interest is claimable in full (since April 2017 there have been restrictions on tax relief)

2. Management charges/commission to letting agencies

3. Property repairs – but not “improvements”

4. Renewals of fixtures on a like-for-like basis (modern equivalents are acceptable)

5. Replacing furniture/white goods/furnishings on a like-for-like basis

6. Maintenance expenses and costs for decorating – including gas safety certificates;

7. Advertising for a tenant and obtaining/drafting a tenancy contract;

8. Buildings/ contents insurance

9. Council tax, water rates, service charges etc. if the landlord incurs these;

10. Travel costs to a rental property for inspections/repairs but note that there are implications for non UK residents.

11. Accountancy! www.ams-accountancy.co.uk/<http://www.ams-accountancy.co.uk/

AMS Accountancy Swindon and Wiltshire

AMS Accountancy Ltd

AMS Accountants in Swindon provide a complete accountancy service for small businesses in Wiltshire and a monthly accountancy service for contractors throughout the UK.

Delta 606, Welton Road, Swindon, SN5 7XF

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