I am a full time landlord have some BTL properties that are held in my own name and I do not have a limited company. Just wanted to clarify what office expenses I can claim against my BTL income tax? I do all my admin work from home, however, I want to keep it simple. Thanks
@Chloe Brown Summers this link to the HMRC website should help. It has a section which details what expenses you can claim with examples.
Do you actually treat your income as self employed activity or income from property on your tax return each year.
Is that even an option? I thought property income can't be treated as a self employed business due to different tax treatments.
I do get what you are saying but people buy things because they are in business which aren't eligible for tax relief. Think 'wholly and exclusively for business purposes' rather than buying them because you are in business.
Hi, it is just treated as income from property. My husband also co owns the properties - can we both claim £6 or so per week? Thanks
Never claimed on any of my clients tax returns working from home allowance on rental property accounts. The £6 per week allowance for home working is for employees. The simplified allowance for home costs is for self employed activity. Rental businesses are not trades unless you provide other services such as laundry, breakfast/dinner, cleaning etc.