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
