Rental Income Allowed Expenses Guide

These are allowable expenses EXCLUDING FINANCE/LOAN/MORTGAGE INTEREST costs. 

  • general maintenance and repairs to the property, not improvements (such as replacing a laminate kitchen worktop with a granite worktop)
  • water rates, council tax, gas and electricity
  • insurance, such as landlords’ policies for buildings, contents and public liability
  • costs of services, including the wages of gardeners and cleaners
  • letting agent fees and management fees
  • legal fees for lets of a year or less, or for renewing a lease for less than 50 years
  • accountant’s fees
  • rents (sub-letting), ground rents and service charges
  • direct costs such as phone calls, stationery and advertising for new tenants
  • vehicle running costs (only the proportion used for your rental business)
  • Expenses incurred solely in connection with running/maintaining the property

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