How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask taxadvisor.uk Your Own Question
taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 6214
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
54961312
Type Your Tax Question Here...
taxadvisor.uk is online now

What type of expense does Landlord licence fees come under

This answer was rated:

What type of expense does Landlord licence fees come under on the self assessment, is it a professional fees or is it a business expense?

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Thank you for your question

I would classify landlord licence fee as legal, mnagement and other professional fees.

As a quide, If your total property income before expenses (including income from furnished holiday lettings) is below £85,000, you can just add up your expenses and put the total (minus any FHL expenses) in box 29.

My aim is to give you a professional service. I hope this is helpful and answers your question.

Please remember to rate my service by selecting the 5 stars at the top of the screen before you leave JA today. If you need more assistance, please use the reply box below and let me know. It has been my pleasure to assist you with your question.

Customer: replied 14 days ago.
Do you mean I do not need to fill in all the separate boxes for each expense catagory?

Thank you for your reply.

You don't have to fill in separate boxes and group your expenses (only exception is finance cost, i.e. interest on loan if any as there is restriction on tax relief available on it).

I hope this is helpful and answers your question.

If there are no more issues, I will appreciate if you would kindly rate my service by selecting the 5 stars at the top of the screen before you leave, to ensure I get credited for it by Just Answer today.

taxadvisor.uk and 2 other Tax Specialists are ready to help you

I thank you for accepting my answer.

Best wishes.

Customer: replied 5 days ago.
Hi, if my business consists of half buy to let and half furnished holiday lets.. and the total income is less than £85k do I need to complete the Uk property SA105 form as well as the self imployment short form?