Landlord Expenses - How detailed?

metallic56

My elderly dad who has alzheimers has moved in with my brother and due to not being able to sell his house (been on the market for 8months) is going to rent his house out for the near future.

I think some claimable expenses can include things like calling costs related to the property (ringing agents/tenants etc)agents and petrol expenses if one has to go the the property. But how do we keep track of these expenses and show "proof"? Eg the phone has inclusive minutes and home phone has 24x7 call package so how can I extract the "cost" of making these calls and how can I show proof? So sorry if it sounds a bit dumb!!!!
I would appreciate any help/advice on this and if there are any other expenses that I can claim.
Thank you

flora48

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_10013435

Have a look here. I have filed my tax return today and it seems that you only have to provide detailed accounts of rental income over £70,000.

I had to make weekly visits to a property which was To Let to comply with insurance conditions and I claimed the mileage for this after my tax adviser said I could.

I have kept details of all my expenses just in case though.

Annisele

I know this isn't what you asked, but I'll say it anyway: Does anyone have power of attorney for your dad?

One of G_M's posts has a lot of information for new landlords. I can't better his post, so I'll just linkto it

metallic56

Thanks for your reply Annisele. No power of attorney at the moment just, me and my brother trying to sort things out.

We need to know how extensive the details will need to be for the expenses incurred.

I have taken a look at the link and I wished I read it before finding agent.
We have used an agent who has added spurious fees which we have not agreed on. Basically the tenant has paid the agent rent and deposit and agent has taken off what they feel like and sent the rest of money to us.

We have disputed the charges with agent but they are very unscrupulous. We want to take the agent to court to reclaim the money - £205. Can someone kindly tell us how we go about doing this please? Much obliged for your advice.

G_M

Stick to one thread - multiple related threads are annoying! (or maybe it's just me).

metallic56

Thanks gm.
The reason is twofold for multiple threads. Firstly, my 2nd question did not relate to the subject title of my initial post and may confuse matters and secondly having a separate thread would generate more appropriate response to that particular problem.

orangeslimes

metallic56 wrote: »

I think some claimable expenses can include things like calling costs related to the property (ringing agents/tenants etc)agents and petrol expenses if one has to go the the property. But how do we keep track of these expenses and show "proof"? Eg the phone has inclusive minutes and home phone has 24x7 call package so how can I extract the "cost" of making these calls and how can I show proof? So sorry if it sounds a bit dumb!!!!

Thank you

Keep copies of the phone bill, and estimate how much you have used it. If it is only a small amount and you aren't being greedy, I wouldn't worry about proof too much...

Other things you can claim are repairs (keep copies of your receipts for paint etc), 10% for wear and tear if furnished.
Agency fees
Insurance

You need to be careful if you carry out what could be considered improvements on the flat - i.e. if you substantially upgrade and alter the bathroom that has different tax implications than if you replace a broken toilet.

If in doubt, add accountancy fees to your expenses!