Jon Rennie
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Service charges from Property Management company
I currently rent out the apartment which belonged to by late parents (now owned by my brothers and myself). When accounting for income from the property, I am clear where ground rents and costs for repairs are accounted for in the SA return. There is also a considerable fee from the Management Agents for the property, to cover buildings insurance, shared are maintenance etc. Can you confirm where this is to be added to the SA tax return - is it box 24 (rent, rates and ground rents) or 25 (property repairs and maintenance) or 27 (legal, management and other professional fees) - or even 29 (other allowable property expenses).