Hello, I am Keith, one of the experts on Just Answer, and happy to help you with your question.
The following items are deductible for landlords [source: Which]
'Allowable expenses a landlord can claim
The most common types of expenses you can deduct are:
- water rates, council tax, gas and electricity
- maintenance and repairs to the property (but not improvements)
- contents insurance
- interest on a mortgage to buy the property
- costs of services, including the wages of gardeners and cleaners (as part of the rental agreement)
- letting agents' fees
- legal fees for lets of a year or less, or for renewing a lease of less than 50 years
- accountant’s fees
- rents, ground rents and service charges
- direct costs such as phone calls, stationery and advertising for new tenants
The expense should be incurred wholly and exclusively as a result of renting out your property.'
UK Tax and NI rates you can find here:
In very basic terms Capital Gains Tax (CGT) applies to any gain you make of disposal. The first 11.1K (Annual Exempt Amount, non cumulative) is deducted from the gain and the balance charged at 18% or 28% or a combination of the two rates depending on your income including the gain in the tax year of sale.
I do hope that my reply has shed some light on your position.