02083871590 office@eljayandco.co.uk

Deductible expenses

Expenses generally allowable include

  • Letting agent's fees and commissions
  • Accountancy fees
  • Some other professional fees
  • Interest on a loan to buy the property
  • Buildings and contents insurance and appliance and plumbing cover
  • Repairs and maintenance including garden
  • Gas, electricity and water rates if not paid by the tenant
  • Council Tax if not paid by the tenant (unusual) and when the property is not let
  • Ground rents and service charges
  • Cleaning expenses
  • Certain employees to manage the property
  • Wear and tear allowance - for furnished properties
  • Advice as to what is a repair and what is an improvement
  • Landlord’s safety certificate

However, any expense that can be demonstrated to be 'wholly and exclusively' for the letting of the property can be offset against letting income. Contact us today for a detailed overview.

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