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Hi HMRC Admin 17
The landlord is also a House in Multiple Occupation (HMO) licence holder and according his property licence it states:
“The Licence Holder and/or their manager must undertake Authority-approved training (e.g.UKLAP/LLAS/NLA property management training) where required to do so by the Authority.”
Since the landlord is also a HMO licence holder, he is responsible from advertising the property to dealing with all issues of the tenancy agreement.
And based this, wouldn’t the costs of these qualification courses be allowable because the principal purpose of taking these training courses are to maintain the property income and enhance the letting and managing of the property?
The courses will also help the HMO licence holder to advertise the property fast and properly to find good and suitable tenants.
This will ultimately help the HMO licence holder to be able to manage the property with less trouble and hassle because he could find good tenants who look after the property and the tenants are less likely to cause trouble in terms of not paying the rent or not complying with the terms of the tenancy agreement.
If a landlord is responsible from advertising the property to dealing with all issues of the tenancy agreement,
would the cost of below qualification courses be allowable because the principal purpose of taking these training courses is to maintain the property income and enhance the letting and managing of the property?
Qualification course for Managing Property and Residential Lettings
Qualification course for Domestic energy assessor
Qualification course for Energy Performance Certificate
Hi HMRC Admin 17
Let’s say my total mortgage interest amount was £3000 and I would put it in Residential finance costs box 44.
And my taxable income was £13,000, my personal allowance was £12,570, hence my total taxable income is £0?
Rental income £18,000
Taxable income £13,000
Less personal tax allowance £12,570
Taxable income £430
Less tax relief for mortgage interest
(Mortgage interest paid is £3,000)
20% of £3,000 mortgage interest £600
Total taxable income £0