Management fees

Management fees - is there a maximum as a percentage of gross annual income which can be offset as an expense on the SA tax return?

Hi,
If you are referring to the gross annual income from a UK rental property rental then you would claim the total amount of allowable revenue expenditure incurred as an expense against your gross rental income.
If you total allowable expenses exceed the amount of the gross rental income then this would just be treated as a loss which could be carried forward to a later year to set off against any future rental income profits. 
Thankyou.

I refer to your above saying of 'If you total allowable expenses exceed the amount of the gross rental income then this would just be treated as a loss which could be carried forward to a later year to set off against any future rental income profits.', is this applicable to overseas non residential owner? My tenant did not pay me rents and I have spent much money to get him out. Whether the legal fees I have spent also accounts for the allowable expenses? If yes, then putting all other expenses including the apartment estate management fee and letting agent fee, I suffer a loss and will this loss be carried forward to a later year and how many years can the loss amount be carried through? Many thanks in advance.

To: joyce6557 An online company Whitefield Tax Ltd say "Solicitors' fees incurred to evict tenants or to recover rental income are treated as incurred wholly and exclusively for the purpose of the rental business and as a result are allowable." So if you suffer a property loss this year it will be carried forward and shown on your tax return,

Hi 
Yes, you are correct in thinking that losses can be carried forward and offset against future profits.
This is applicable as a non-resident landlord as well.
The losses can be carried forward until such times as they are fully exhausted.
Thank you. 

Hi- my flat was on rent but from April it will e vacant as I plan to sell. However, I would still incur costs (such as ground rent, management fee etc) April onwards. So can I offset these costs from April 24 onwards against previous years income?

Hi Raj
You can claim allowable expenses to work out your rental profit for the previous year.
Once you have submitted your rental accounts, you cannot carry back the expenses incurred in the current year.
If there is no trade i.e. income from property, then expenses incurred after trading cannot be claimed as not incurred wholly and exclusively in relation to that trade.
Thank you.