Tax Reliefs for Property Investors

According to MCC Accountants in Salford there are various tax reliefs available for Property Investors 

The expenses that should be allowable against your annual rental income :

• Lettings management charge
• Renovations Profit/Management Charge
• Legal certification
• Services provided by the landlord – water, electricity, gas, insurance, broadband
• Mortgage interest payments
• Decorating costs
• 10% of the value of the furnishings

Tax Relief against your sale proceeds :

If you do not obtain the tax relief now, some of your costs will help to reduce your taxable gain on the sale of the property. These costs include:

• Sourcing/Finders fees
• Stamp duty on purchase
• Legal fees on purchase
• Legal fees on sale
• Valuation fees
• Renovations – Kitchen, Bathroom
• Furnishing/White Goods
• Flagging/Turf

MCC Accountants in Eccles are small business accountants, we currently work with over a 100 sole trader, partnership and limited companies. If you are a small business owner looking for accountancy advice MCC can help you, contact us by calling 0161 707 1500, we will be happy to answer any questions you have.

Leave a Comment





This site uses Akismet to reduce spam. Learn how your comment data is processed.