It's always nice to get something back from Gordon and the taxman even if it is only an extra £1 per week.
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The relief is claimed as way as an expense when calculating a landlords expenses in running a letting business.
This amount could be more but a landlord will have to be able to evidence this by ways of demonstrating apportionment of household bills. In his case a landlord can get tax relief for the extra household expenses that you have to pay because you run your letting business from home. Typically these extra expenses include:
- the extra cost of gas and electricity to heat and light your work area
- business telephone calls
For full details on homeworking go to the HMRC website.
For details how you can calculate your tax for your rental property for FREE.
2 comments:
I am just looking at Registering for Self Assessment for the first time. I have a single property that has a 'Consent to let' (not Buy to let).
As the mortgage is in Joint Names with my wife, we both have to register and submit tax returns. We have to claim/declare
My/Our Question:
We use a Managed Service with our Letting Agent, Can we still claim Home Office Expenses?
If so, can we only claim half of the £3 pw each or could be both claim the full £3 pw each?
Hi Tristen,
My thoughts would be that consent to let or buy-to-let makes no difference from a tax point of view. You are still running a rental business. I would say that the expense could be claimed by each party but the honest truth is I'm not an accountant so don't truthfully know. You could try posting the question in our forum after first registering.
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