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Landlords: are you paying too much tax?

Landlords: are you paying too much tax?

Lettings PLJ 30th July 2019

In the UK…

Unfortunately, all income from property is taxable but there are concessions available.  We would recommend a quick look at our TAX GUIDE FOR LANDLORDS to make sure you are paying the correct amount and what you can legitimately claim against tax.  Expenses that can be claimed against the tax include:

Letting agent's fees

Accountant's fees

Buildings and contents insurance

Interest on property loans

Maintenance and repairs to the property (but not improvements)

Utility bills (like gas, water, electricity)

Rent, ground rent, service charges

Council tax

Services you pay for, like cleaning or gardening

Other direct costs of letting the property, like phone calls, stationery, advertising

 

Overseas…

Overseas Landlords fall into a different tax category. We can provide further information on this if necessary.

For a free copy of our tax guide for landlords please click here

 

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