Buy-to-let landlord expenses: What you should be claiming for
Do you know the buy-to-let landlord expenses you could be claiming for?
As a buy-to-let landlord, you’re entitled to claim for any expense incurred as a consequence of renting out a property.
If the expense is related to a property that you’re renting out as a whole, then you can claim for it in full.
If the expense is only partially related to a property you are renting, you can still claim for a proportionate amount.
For example, if you own a series of flats in the same building and live in one yourself, you can deduct the share of utility costs owed by other tenants for lighting and heating in communal areas.
What buy-to-let landlord expenses can I claim for?
You can claim for a whole range of different buy-to-let landlord expenses, including:
- Utilities (water, gas and electricity)
- Council tax
- Property maintenance/repairs (not improvements)
- Contents insurance
- Interest on mortgage for initial purchase
- Servicing costs outlined in tenancy agreement (e.g. cleaner or gardener payments)
- Letting agent fees
- Accountant fees
- Legal fees (on tenancies of less than one year, or lease renewals of less than 50 years)
- Rent, ground rent and service charges
- Direct costs (e.g. stationary, phone calls and advertising)
Despite all the major buy-to-let changes announced in recent years, there’s still plenty of incentive for buy-to-let landlords to adapt their services and continue with business as usual.
Call on the friendly 3 Wise Bears team and get more expert accountancy advice for buy-to-let landlords.
