07/07/2025
🏡 Landlords: Are You Claiming the Right Expenses?
If you rent out property, knowing the difference between allowable and disallowed expenses is key to maximising your tax efficiency and staying compliant with HMRC.
✅ Allowable Expenses - can be deducted from rental income to reduce your tax bill:
▫️Mortgage interest (within current relief limits)
▫️Letting and management agents fees
▫️Property repairs and maintenance
▫️Council tax and utility bills (if you cover the cost)
▫️Building and contents insurance
▫️Accountancy fees related to rental income
❌ Disallowed Expenses - cannot be claimed against your rental income:
▪️Property improvements or renovations (these may qualify for capital allowances)
▪️Property surveying
▪️Mortgage rates/ Property cost
▪️Stamp Duty Tax
▪️Personal expenses
🔔 Keeping accurate records of all property income and expenses makes life easier at tax time and helps avoid costly mistakes.
🚨 Need help navigating landlord expenses? Reach out, we are just a message away.
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