Tax Deductible?

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    Tax Deductible?

    I have a flat that I rent out that I have found out is subject to a doubling ground rent clause. I have the chance to get a deed variation but it's going to cost me double the amount of someone who lives in their property to get the variation (£4k!!) Is this something that is tax deductible?

    What is the actual wording on "starting ground rent" and "frequency of increase" and "permitted increase" in your lease ?


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      02-07-2019, 20:57 PM
    • Reply to don't want to reinvent the wheel- spreadsheet required
      I use something I've put together which calculates exactly what I need to put in each box on the SA forms. We've got the same number of properties and it works for us, but I find I have to be on top of it (sometimes on a daily basis) with expenses and paperwork so it's not for everyone. The good thing...
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      I bet accountant will be able to identify £250 of savings, and his bill is tax deductible also. Thirdly, any mistake found years ahead will be on his head rather than yours. Go with the accountant IIWY.
      16-07-2019, 07:52 AM
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