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Property Expenses

Property Expenses, What can I claim?

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Below is an extensive list of property expenses that an investor can claim.

These can be offset against rental income when calculating profits and you can deduct business expenditure used in the normal course of running the property business. You can also get a deduction for the business element of expenditure used partly for the business (i.e. part of your mobile phone bills).

Property Expenses

  1. Advertising
  2. Agent / Management Fees
  3. Mortgage Interest
  4. Loan Interest
  5. Bad Debts
  6. Cost of Collecting / Enforcing Debts
  7. Cost of services provided by Landlords: Gas, Electricity, Water, Services Charges & Rates.
  8. Cleaning & Waste Disposal
  9. Gardening
  10. Rent and Ground Rent
  11. Insurance - Building, Contents, Landlord etc
  12. Repairs and Maintenance
  13. Refurbishment that replaces existing assets (replace existing Bathroom, Kitchen etc)
  14. Motor and Travel Cost - An investor can claim 45p per mile for travelling from home to the properties if they manage the properties themselves.
  15. Other travel - train, bus etc.
  16. Printing, Postage and Stationary
  17. Subscriptions to a Landlord Association
  18. Legal & Professional Fees - Not connected to the original purchase, preparing tenant contracts, eviction fees.
  19. Accountancy Fees
  20. Use of Home as an Office - Landlords often overlook the expenditure they incur in running their property business from home. If you have designated a room as your office you can get a deduction for rent/mortgage, light & heat, rates, internet but not water.
  21. Wear and Tear Allowance - A special deduction available only in respect of furnished residential properties. Equivalent to 10% of the gross rents after any costs which would ordinarily be the tenant's burden, such as rates.
  22. Telephone / Mobile costs
  23. Television licence provided by Landlord
  24. TV Satellite provided by Landlord
  25. Property Training - provided a portfolio is present at the time of training
  26. Books & Magazines associated with property investing
  27. Computer Equipment
  28. Bank Charges
  29. Gas & Safety Certificates
  30. Hotel & Subsistence
  31. Work Tools
  32. Logo/Special Clothing

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