When declaring your rental income on a Self-Assessment, you can claim the costs in managing and maintaining the property, reducing the tax you will pay. The most common expenses are:
Common Expenses
- Estate Agent fees
- Property Management fees
- Landlord insurance
- Gas and electricity safety checks
If the property is empty while you are securing a tenant, then you will also be able to claim:
- Council tax
- Utility bills
- Advertising costs
You can claim for repairs to the property or for the repair or replacement of furniture items including:
- Furnishings
- Appliances
- kitchenware
NOTE: This only applies to the repair or replacement of these items. The initial purchase of the items would not be included.