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Tel: 0151 348 8400| Fax: 0151 348 8401 | Email: Mail@moco.co.uk

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Chartered AccountantsChartered Accountants

Deductible Expenditure

Expenses generally allowable include:-

  • Letting agents fees and commissions
  • Accountancy fees
  • Certain legal expenses
  • Interest on a loan to buy the property
  • Buildings and contents insurance
  • Repairs and maintenance
  • Gas, electricity and water rates if not paid by the tenant
  • Council tax
  • Ground rents and service charges
  • Cleaning expenses
  • Payments to employees to manage the property
  • Bad debts

However any expense that can be demonstrated to be 'wholly and exclusively' for the letting of the property can be offset against letting income.

Want to know if it's allowable, contact bb@moco.co.uk

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