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Consent To Let - Tax Questions
GeekDom
Posts: 24 Forumite
Hi,
New user, but long time lurker. I recently moved home (renting) due to job change. I already own a mortgaged home which has been granted CTL by my lender.
I have researched all my responsibilities as a new landlord (tax, safety, deposit etc) but still a bit confused regarding tax implications. I know only the interest portion of the mortgage repayments are 'expenses', but would someone with a bit more knowledge please confirm if the following would be allowed as expenses:
1. Agent fees and associated costs.
2. Gas/Electric safety checks and certificate costs.
3. Landlord Insurance, and Home Emergency Cover.
4. Gardening costs (paid professional).
5. Painting & Decorating (paid professional).
Thank you for any comments.
New user, but long time lurker. I recently moved home (renting) due to job change. I already own a mortgaged home which has been granted CTL by my lender.
I have researched all my responsibilities as a new landlord (tax, safety, deposit etc) but still a bit confused regarding tax implications. I know only the interest portion of the mortgage repayments are 'expenses', but would someone with a bit more knowledge please confirm if the following would be allowed as expenses:
1. Agent fees and associated costs.
2. Gas/Electric safety checks and certificate costs.
3. Landlord Insurance, and Home Emergency Cover.
4. Gardening costs (paid professional).
5. Painting & Decorating (paid professional).
Thank you for any comments.
0
Comments
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Welcome.
It's worth familiarising yourself with the advanced search function, this gets asked a couple of times a week.
http://www.hmrc.gov.uk/manuals/pimmanual/Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0 -
Thanks Fire Fox. Already been there, but though I would ask specific questions to try and get my head around it all.0
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1 - yes
2 -yes
3- yes
4- yes
5- not before first letting. Redecorating between lettings is recoverable0
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