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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15979
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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A deceased persons estate includes a property. This property

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A deceased persons estate includes a property. This property is rented out until the settlement of the estate generating income and profit. What tax allowances are available to the estate / executors against this rental income?

An estate is not entitled to a personal allowance as an individual is. The trustees can, however, claim a deduction for certain expenses they incur as you will read here and here. There are some notes on completing the estate tax return here.

Property letting expenses such as agent commission, VAT, repair costs, maintenance expenses and other costs covered by the headings listed here and here will all be deductible from the rental income.

I hope this helps but let me know if you have any further questions.
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