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Allowable expenses on Buy To Let
Brad009
Posts: 3 Newbie
Hello everyone.
I have rented my flat out that is still on a standard residential mortgage but with a consent to rent agreement.
There was a cost of circa £300 for the consent to rent from my mortgage provider. Can this amount also be claimed as an allowable cost on my tax return like the interest can be claimed currently?
Any help would be greatly appreciated.
I have rented my flat out that is still on a standard residential mortgage but with a consent to rent agreement.
There was a cost of circa £300 for the consent to rent from my mortgage provider. Can this amount also be claimed as an allowable cost on my tax return like the interest can be claimed currently?
Any help would be greatly appreciated.
0
Comments
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Dunno really, I suppose one could argue no on the grounds that it's a one off, but...
Page 5 of https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/420043/SA105-Notes-2015.pdf doesn't mention this category of fee as either allowed or disallowed.
So I'd stick it in. It used to be that you could ring and ask an advisor, but since HMRC's staffing cuts I can never get through to a human. And as the tax return merely asks for summary figures, there's no need to detail the fees; your letting agents' fees will probably be well over £300 anyway, so will dwarf that ...
And in the amazingly unlikely eventuality that HMRC audit your tuppeny ha'penny lettings business, and challenge it, all you's have to do would be to repay the £60 tax relief...0 -
I claimed it for my tax return...0
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I'm certainly no expert, but I would have put it in as it is a 'cost of running the business' - you couldn't let your property (correctly) without it.0
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