Claiming agent fees from HMRC when renting

Expatmichali

Would appreciate some assistance please. We are preparing our income tax returns and reading the guidance notes on what we can claim for on our rented property, it states that we can claim for letting and management fees but not for legal fees. We are not sure what the legal fees are. Is that the actual preparation of the tenancy lease by our estate agent?

buggy_boy

Legal fees would be generally for buying the property, so yes the charge by the estate agent for the tenancy would be off settable, I would suggest maybe you look at getting a property specialist accountant if you are a 40% tax payer to do your taxes for one year, as there are all sorts of things you can claim, what you pay them you could save, you can then use that as a template for future years. (Also the accountant fee would be off settable).

Try sites such as landlordzone, property118 and propertytribes for some guides.

pramsay13

You can claim for anything that is wholly and exclusively for renting the property, so preparation of the tenancy lease would fit that.

Expatmichali

Thank you both for the replies! I will check out those sites too.

sal_III

buggy_boy wrote: »

Legal fees would be generally for buying the property, so yes the charge by the estate agent for the tenancy would be off settable, I would suggest maybe you look at getting a property specialist accountant if you are a 40% tax payer to do your taxes for one year, as there are all sorts of things you can claim, what you pay them you could save, you can then use that as a template for future years. (Also the accountant fee would be off settable).

Try sites such as landlordzone, property118 and propertytribes for some guides.

There is a £1k allowance for expenses, if used you don't need to provide any evidence. This fist most of the "casual" Landlords and removed the need for accountant.