Landlords: the expenses you can (and can’t) claim
Repairs versus improvements, mortgage interest, and the costs most landlords forget.
Tom Ashdown
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7 min read
Key takeaways
- Repairs are allowable; improvements usually are not
- Mortgage interest gets a 20% tax credit, not a deduction
- Agent fees, insurance and accountancy are all claimable
- Keep receipts for six years
Repairs, yes. Improvements, no.
Replacing a broken boiler with a similar one is a repair. Adding an extension is an improvement and goes against capital gains later instead.
Mortgage interest
You can’t deduct it from rental income any more, but you get a 20% tax credit on it. Keep the annual interest statements.
Often forgotten
Letting agent fees, landlord insurance, ground rent, travel to the property, and the cost of our fees for the rental pages.
The service behind this guide
Landlord & property tax
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