![]() It s important to note that HMRC regards a property rental business as beginning on the first day that a property is let out. ![]() 1 Guide to tax-deductible expenses for a property rental business ESSENTIAL TAX-PLANNING FOR PROPERTY INVESTORSÄ¢ Contents Introduction What expenses can be deducted from rental profits? Interest and finance charges Motor and travel expenses Repairs & Renewals Accountancy, legal & professional fees Insurance and service charges Advertising & marketing Furnished lettings Other business expenses Telephone, fax, stationary & other office costs A final point on expenses for a property rental business Guide to tax-deductible expenses for a property rental business 2Ä£ Introduction One of the most common questions asked by clients with investment property is what costs can be claimed against income tax on property rental profits? Clearly, it makes sense to ensure that every possible expense and allowance is claimed before calculating the income tax to be paid on rental profits, as this has a direct impact on the amount of tax payable.
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