Tax relief Agents Fees

  • Filter
  • Time
  • Show
Clear All
new posts

    Tax relief Agents Fees

    New landlord. Doing online self assessment. Form says I can claim Agent Fees against, but the form does not deduct the amount I enter from 'profit' . What am I doing wrong please?

    Are you using the SA105 Tax Return for reporting property income ?


      On line Self Assessment SA302 I think it says


        Think I've sussed it!


        Latest Activity


        • Tenants in common
          Hi Taxperts,

          I’m currently a higher rate payer whilst my wife is at the lower rate. I’m looking at purchasing x3 further btl properties as tenants in common with my wife owning 99% shares and me 1. As my wife’s credit history isn’t as strong as mine I would like to A: get advice...
          20-03-2018, 13:34 PM
        • Reply to Tenants in common
          I agree that " The bit you cite from HMRC is not saying that a beneficial joint tenancy is magically and simultaneously not a beneficial joint tenancy (the only other alternative is TiC) if there is a deed of trust." I don't think that.

          What I am saying is that a Joint Tenancy...
          22-03-2018, 12:21 PM
        • Reply to Tenants in common
          Yes, but that conceptual state to which you refer is not a Beneficial Joint tenancy (an undivided single share as opposed to TiC). The "widespread use of declarations of trust" is not in beneficial joint tenancies.

          No, there does not have to be explicit declaration of proportions...
          22-03-2018, 10:40 AM
        • Reply to Tenants in common
          It exists as more than a concept.

          [/LIST]That's from HMRC internal manual - Trusts, Settlements and Estates Manual - link as per above.

          Tenants in common don't have any presumption of ownership shares, they have an explicit declaration of those shares. Which can be in conflict...
          22-03-2018, 10:04 AM
        • Remortgage interest deductable?
          Long story short!

          Bought flat for 126k (current value 188k), currently owe 75k, just remortgaged for 105k (withdrew 30k to replenish emergency fund due to wedding depleting current one)

          My understanding is that unless I reinvest this 30k back into my business I will not be...
          21-03-2018, 19:17 PM
        • Reply to Remortgage interest deductable?
          If the flat is rented, you can claim tax relief (new limited version) as per the original loan, up to a maximum loan amount of £126k

          It doesn't matter what the money is for, it matters that it's taken out on a business property.
          22-03-2018, 09:55 AM
        • Section 20 tax deductable?

          Thanks in advance for any advice,

          I have recently recieved a section 20 notice for refurb of the common areas of my block of flats (shared) yet to know the cost!

          my question is if the cost is substantial i.e 1-3k can i deduct that in the whole amount as an...
          21-03-2018, 18:55 PM
        • Reply to Section 20 tax deductable?
          It's just a service charge. If it is a business expense, you should be able to set it off.

          Although service charges are normally revenue, ex-council property service charges may include capital items.
          21-03-2018, 23:09 PM
        • Reply to Tenants in common
          From the OP's post I presumed he would be purchasing jointly with his wife.
          21-03-2018, 22:20 PM
        • Reply to Tenants in common
          I guess some lenders may not be interested and others might disallow.

          A deed of trust is not just about a temporary arrangement. The husband (in this case) would be GIVING 99% of the property (permanently, at least until the wife agrees to give it back) to someone not named on the mortgage....
          21-03-2018, 22:03 PM