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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 7252
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I own a property in London. I regularly have expenses in

Customer Question

I own a property in London.

I regularly have expenses in maintaining this property.

I also receive income on this property, through a service called 'OneFineStay', where my entire property is rented to guests, when I am not using the house.

Can I claim the maintenance expenses against the income, and so avoid income tax liability on the income? I am a top rate income tax payer due to other income.
Submitted: 3 years ago.
Category: Tax
Expert:  Sam replied 3 years ago.

Hi

 

Thanks for your question

 

How often do you use the house, is this your main residence ? Where do you spend the rest of the time? How much rental income do you make in a typical month, and how much is the maintenance ?

 

Thanks

 

Sam

Customer: replied 3 years ago.

 


It is my main residence.


I use it 310 days and rent it 50.


when not there I am either in hotel or our country house.


 


rental income approx 1k a month, maintenance approx the same


 


 


 


 


 


 


 


 


 


 


 

Expert:  Sam replied 3 years ago.

Hi

 

Thanks for your response and the additional information

 

How can the maintenance be £1000 a month ? That seems excessive. Can you expand on this.


Thanks


Sam

Customer: replied 3 years ago.


well we did a huge refurb project (hundreds of thousands of pounds last year), and there continue to be proportionate expenses as we keep the house running.

Expert:  Sam replied 3 years ago.

Hi

 

Thanks for you response and apologies for the delay in mine.

 

Refurb costs are not allowable to claim against rents(these are claimed when the property is sold to allow a % against the capital gain that will arise)

 

But I cannot see how £1000 would relate to expenses to keep the house running. Do you let for one 50 day period, or a few days here and there? What makes up these maintenance costs ?

 

Thanks


Sam

 

Expert:  Sam replied 3 years ago.

Hi

 

Could you provide the information asked for, so I can answer your question fully

 

Thanks


Sam

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