Taxable Allowance on rental Property

KennyH1

I know there are certain things i can claim for but can i claim for my hours worked on the property or just for the materials i've used plus any other contractors work?

Oldernotwiser

Claim as in benefits?

KennyH1

On my rental income i can deduct mortgage interest payments, service charges, wear an tear from the income to leave a taxable amount. I want to know if any hours worked on the property by myself can be deducted as well. EG - I've spend a couple of days there doing upkeep and maintenence myself, so can i claim for that work therefore reducing the taxable amount?

zagfles

KennyH1 wrote: »

On my rental income i can deduct mortgage interest payments, service charges, wear an tear from the income to leave a taxable amount. I want to know if any hours worked on the property by myself can be deducted as well. EG - I've spend a couple of days there doing upkeep and maintenence myself, so can i claim for that work therefore reducing the taxable amount?

Err, how would that help? You'd lower your rental income and increase your earned income instead. Tax effect nil. In fact if it's earned income you might have to pay NI so you'd be worse off:eek:

Oldernotwiser

KennyH1 wrote: »

On my rental income i can deduct mortgage interest payments, service charges, wear an tear from the income to leave a taxable amount. I want to know if any hours worked on the property by myself can be deducted as well. EG - I've spend a couple of days there doing upkeep and maintenence myself, so can i claim for that work therefore reducing the taxable amount?

This is the Benefits Board. You need to be on Cutting Tax.