Tax Returns - What can I claim for

Discussion in 'Residential Letting Questions' started by David Wilcox, Jan 20, 2013.

  1. David Wilcox New Member

    OK I know I should have used an accountant but thought i'd give it a go myself. Can anyone advise on the following:
    The costs involved in purchasing a property to rent out, can I claim for these:
    ie Mortgage arrangement fee, Solicitors fees, search fees and Land Registry etc.

    I've used my phone but this is a contract and so have only used some of my inclusive minutes and texts where as the rest have been personal use. How do I calculate what I claim.

    Using my car. Is there an amount per mile I claim.

    With doing this from home I've been advised I can claim for this. How much do you claim.

    Thanks for any advise (except you should've used an accountant)

    Dave
  2. chris horne Member

    Hi Dave

    These costs are for the set up of your investment and therefore can be set off against capital gains tax but not income.

    You can claim for your phone and a home office have a look at this recent article explaining apportionment. The HMRC approved mileage rates are here.

    Hope this helps

    Chris

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