Self-Assessment for BTL - home office as allowable expense

BoGoF

Still intrigued to know how an 'average' of 1 or 2 hours a week would be clocked up. What exactly do you do in this time?

Do you have a letting agent?

00ec25

BoGoF wrote: »

Still intrigued to know how an 'average' of 1 or 2 hours a week would be clocked up. What exactly do you do in this time?

Do you have a letting agent?

not sure who you are replying to here

I did not say hours per week. I meant enough time on 1 or 2 weeks per year, to justify a cost deduction of £4 or £8 on the basis of need to undertake "admin" such as placing adverts, writing adverts, updating contracts, keeping up to date with legislation (ie reading posts on MSE :rotfl: )

BoGoF

00ec25 wrote: »

not sure who you are replying to here

I did not say hours per week. I said 1 or 2 weeks per year, so a cost deduction of £8 on the basis of need to undertake "admin" such as placing adverts, writing adverts, updating contracts, keeping up to date with legislation (ie reading posts on MSE :rotfl: )

Sorry, that was meant for OP who said earlier their 'admin' averaged 1 or 2 hours a week. If he has a long term tenant then I find that hard to believe.

OneAimMan

BoGoF wrote: »

Still intrigued to know how an 'average' of 1 or 2 hours a week would be clocked up. What exactly do you do in this time?

Do you have a letting agent?

No I manage it all myself. The margins are tight as it is!

If you were to include all the hours spent sourcing trades people, getting quotes, back and forth, paying bills, tenancy agreements, being aware of legislation, filling paperwork, chasing incompetent management companies, making forum posts ,...,.... and im including the time it takes to do tax returns, it can definitely average out an hour per week.

My question has been answered. I just wish the sites offering advice to landlords were more clear on this point.

e.g. https://www.property118.com/claiming-home-as-office-expenses-for-landlords/ (albeit old article now)

"Don’t ever claim less than £208 – it’s the magic number the taxman says you can have, so every landlord should claim the relief."

BoGoF

Ah, one of those people. Find one article that suits you and you'll take that as read.

For the avoidance of doubt the taxman says no such thing.

And no you can't count the time spent on your tax return as working fom home on your property business.