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  • RE: SA 105- deduction of service charge

    Thanks for your prompt reply. My property management agent also charged me an annual insurance for the building which last from 1/9/2021 to 31/8/2022. Since the tax period only includes 6/4/2021 to 5/4/2022, should I break down the insurance cost and work out how much it cost within the period 1/9/2021 to 5/4/2022? Thanks!
  • SA 105- deduction of service charge

    I am a leaseholder of an apartment which I let it out last year. Since I need to pay service charge to the property management agent every 3 months, I would like to know if I can deduct the service charge from my letting income, If I can deduct the cost of service charger, which box should I fill in SA105?
  • RE: Deduct expenses from rental income

    Thanks for the prompt reply! I would like to know more about deduction the cost of insurance. according to PIM2110, the insurance for risk of loss of rent could be deducted against the letting income. In my case, I purchased the 12-month rent guarantee insurance, which can recover the rent by the agent if the tenant has any default in rent payment. Is that the insurance for risk of loss of rent which can be deducted against the letting income? Thanks!
  • RE: Deduct expenses from rental income

    Thanks for your reply! I appreciate that links were provided for me to check the guidances. However, I failed to open any of the link you gave me. I was informed that I could not reach "intranet.prod.dop.corp.hmrc.gov.uk" when I clicked the links you provided. May you tell me if the cost of 12-month rent insurance and "new let and market" could be deducted from income?
  • RE: Deduct expenses from rental income

    thanks for your advise! Yet, as I read the link you gave me, it mentions: "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........ Expenses for a let of a year or less can be deducted." however, my cost of "new let and market" and the 12-month guarantee insurance were for a 1-year tenancy, so i suppose they could be deducted against my letting income. Am I correct?
  • RE: Deduct expenses from rental income

    Thanks for your reply! So I think the cost of setting a new 1-year tenancy and advertising the property, which incurred on the day the rental business commenced, could be included as an expense against my rental income. Am I correct? May I know if the 12-month rent guarantee insurance could also be included as an expense against my rental income? Thank you
  • RE: Deduct expenses from rental income

    Thanks for your reply. I have some further questions about the expense I can deduct. My property started to be rented out in May 2021, and I pay fee of "New let and Marketing", which included the cost of setting a new 1-year tenancy and administration cost of advertising the property, to my letting agency. I also purchased a 12 month rent guarantee insurance through my letting agency. Besides, I also paid the council tax in April 2021 before my property was rented out. I would like to know if I can include the cost of "New let and Marketing", 12-month rent guarantee insurance, and the council tax in April 2021 as expenses against my rental income. Thanks!
  • Deduct expenses from rental income

    I am a non-resident landlord who rents a property through a letting agency, so I pay management fee to the letting agency every month. Since I also paid the VAT of the management fee to the letting agency, I am wondering if I can also deduct the amount of VAT I paid in management fee from the rental income.
  • RE: How will I get the UTR code as a non-resident landlord

    So am I supposed to receive an activation code within 21 days if I live abroad? However, my SA form reached HMRC in late April, but I still did not receive any feedback. What can I do?
  • How will I get the UTR code as a non-resident landlord

    I am a non-resident landlord who live at HK. Since I started to receive rent income from an UK property in May 2021, I mailed a self assessment form in paper to HMRC in late April 2022. Will I receive a letter from HMRC and inform me about my UTR code?