Landlords: Time spent using own computer

Sillychuckie

I'm a new and reasonably accidental landlord and am doing my first tax return.
I read around on some sites that you can expense 'time spent using own computer', for day to day running of things.

Can anyone help quantify that? Does that apply to UK?
What is my time worth for the HMRC tax return?

Thanks.
SC

gazter

Sillychuckie wrote: »

I'm a new and reasonably accidental landlord and am doing my first tax return.
I read around on some sites that you can expense 'time spent using own computer', for day to day running of things.

Can anyone help quantify that? Does that apply to UK?
What is my time worth for the HMRC tax return?

Thanks.
SC

I dont think it is your time so much as the capital cost of the item itself. You can buy a computer and put the costs against your tax.

Carl31

You can offset the costs of running your business against tax as long as they are wholly and exclusively business costs, this includes any assets you may use as part of your business.

For your computer, you would need to be writing down the value for tax purposes and then pro rating the amount used for business

Sillychuckie

Ok, thanks all.
I wont bother then. Sounds complicated, and not worth it given the relative time I use it for business vs personal use.

anselld

As a landlord, charging for your own time would be futile. If you did so you would need to declare what you pay yourself as income then deduct it as expense. They would balance each other out so it is pointless.