Things I can claim for?

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    Things I can claim for?

    Hi does anyone know of an extensive list of things I can claim for on the property I have rented out, I've kept all receipts from the refurbishment but was wondering if there are other things out there that I'm unaware of
    Thanks

    #2
    Oh, well there's also mortgage interest, accountancy fees, travel, stationery. Maybe even your pc if you bought it for the business.
    To save them chiming in, JPKeates, Theartfullodger, Boletus, Mindthegap, Macromia, Holy Cow & Ted.E.Bear think the opposite of me on almost every subject.

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      #3
      You should probably invest in an accountant - given that it's nearly January and it's a little late to try and learn what you need to in thirty odd days.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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        #4
        There are at least 12 taxes a landlord may end up paying: Do not make the mistake of just worrying about reducing tax for income tax - you could end up paying more elsewhere...

        Read this or something like it...
        http://www.amazon.co.uk/How-Save-Pro...ley/dp/1907302
        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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          #5
          Somebody is doing my tax return I was just wondering if there was a list for landlords which covered certain things I may not have thought of

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            #6
            hmrc property rental toolkit might help?

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              #7
              Originally posted by DDlandlord View Post
              I've kept all receipts from the refurbishment
              If the property was bought in need of refurbishment, and that was reflected in the price, then I believe refurb costs for the most part will not be deductible from rental income. (Capital expenditure rather than revenue.)
              There is a fine line between irony and stupidity. If I say something absurd please assume that I am being facetious.

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                #8
                Originally posted by DDlandlord View Post
                Somebody is doing my tax return I was just wondering if there was a list for landlords which covered certain things I may not have thought of
                You really need to understand the business better: What training did you do - course, books - on being a landlord?? Don't rely on "somebody" to have known what you are doing - why on earth would they know about stuff you've done?? You need to help yourselff more 1st...

                Read the book I suggested & then you should realise about the receipts & evidence you failed to collect 2013-2014: But do better in future...
                I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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                  #9
                  The link to the book doesn't work

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                    #10
                    I think its the tax café book on how to save property taxes - that along with the latest david lawrensons book are my recommendations -both are well worth the investment, and yes, you can claim for them against any income!

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                      #11
                      Originally posted by DDlandlord View Post
                      The link to the book doesn't work
                      If the broken link refers to "How to save Property Tax" by Carl Bayley, it is still available from Amazon. Or the TaxCafe website :

                      http://www.taxcafe.co.uk/property-tax-guide.html

                      It is a useful book & well written.

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                        #12
                        Thanks everyone

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                          #13
                          I'd be curious to know how much of that book covers Capital Gains Tax as that's currently my biggest, albeit long term, worry.

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                            #14
                            It gets covered in the book.

                            CGT is relatively simple, and the book is good on the subject.
                            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
                            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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