FREE WORKBOOK
Allowable Expenses Log
Fourteen lines, three answers, and the catch on each one. Interest is on the list and marked no.
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Who this workbook is for
Anyone still putting the mortgage through as a cost
It is on the list deliberately, marked no, because it is the single most common thing landlords still claim. Interest stopped being deductible on 6 April 2020 and gives a basic rate reduction against the tax instead. Capital repayment never was a cost at all.
Anyone who furnished a property and claimed it
The first set of furniture is capital and not claimable. Replacing it is, but only up to the cost of a comparable item, so an upgrade is capped at what the like for like would have been. Two rules that pull in opposite directions on the same sofa.
Anyone guessing at the split on travel and phone
Both are partly deductible and both need a proportion you can defend. Travel to the property counts for the property business, not for a look at it on the way to somewhere else, and the sheet keeps them separate from the lines you claim in full.
