If you’re a landlord in the UK and rent out your property then you’ll need to tell the tax man about the money you’ve earned from the property and how much you spent to earn that money.
You should do that each year by completing a self assessment tax return. This tax return needs to be submitted to HMRC by the 31st January after the end of the tax year.
The tax return also needs to show all your other sources of income for the year (such as a regular job), even if they’ve already been taxed.
Trusted Landlord Accountants
We provide landlord accountant services to people all over the country, as well as to those landlords who live abroad, to help them stay on the right side of HMRC. We aid landlords throughout the whole process, from registration through to expenses and we also put the tax return together for you. We’ll then submit your tax return online to HMRC on your behalf. It’s tax for landlords – made simple.
What expenses can I claim as a landlord?
Our Landlord Tax Experts will guide you through the different expenses that can be include when preparing your self assessment landlord tax return. These expenses help to reduce any profit you’ve made on your rental properties. We’ve listed below some of the most common expenses that we include:
- Mortgage interest
- Estate Agent fees
- Accountancy fees
- Legal fees
- Service charge
- Council Tax
- Ground Rent
- Building Insurance
- Landlord Insurance
- Repairs and Maintenance
- Utility bills like water, gas and electricity