Rental Property Expense Deductions

Tassotti

Helpme999 wrote: »

Hi thanks for your reply. So let me see if I understand this correctly...say as an example might help me :

Rent 12000
Less Expenses
Estate Agent 1200
Repairs to Roof 800
Toilet Repair 50
Bathroom Fan Replaced 100
Wear & Tear 1200
Total Expenses are 3350

Profit 8650

The new washing machine, other white goods say £1000. Do I get say 25% of £1000 as a deduction against the profit? Or is that taken account in the wear and tear allowance?

Thank you

You can also claim for the following:

Loan Interest and Other Financial Costs
eg Monthly mortgage Interest

Rent, Rates, Insurance, Ground Rents
eg Annual Service Charge
Landlords Insurance
Rent Guarantee Insurance

Legal, Management and Other Professional Fees
eg Tenant Referencing

Property Repairs, Maintenance and Renewals

Helpme999

Thank you x