Financial costs

Hello! team, I have a question regarding property valuation fees . When I applied for a Buy to let mortgage, I had to pay a valuation fees to get a mortgage. I understand that this is a deductible expense. (Could you please confirm?) Could you please let me know where to put it in my tax return: Do I submit it as a general expense or as a part of finance cost? Thank you!

Hi iren,
Please see:
PIM2120 - Deductions: main types of expense: legal and professional costs
Which states 'the expenses incurred in connection with the first letting or subletting of a property for more than one year are capital expenditure and therefore not allowable.
The expenses include, for example, legal expenses (such as the cost of drawing up the lease), agent's and surveyor's fees and commission.
Expenses for a let of a year or less can be deducted.
Thank you. 

Thank you very much for your response. I would like to clarify: My first letting contract will be a one year buy-to-let contract. As this does not exceed one year (as mentioned in the document above), I believe that my valuation fees that the mortgage company charged me to offer a mortgage will become a deductible expense. Is this correct understanding? Thank you very much in advance for your help!

Hi,

Thank you for your question, please see our online information regarding financial costs and expenses on the link below:

Allowable expenses

Thank you.