Howlader & Co Blog
rental accounts
10th July 2014
In recent weeks, we have received a number of queries in relation to letters received from HMRC asking about undeclared rental income.
If you are renting a property, and have not told HMRC, then you may soon be the recipient of one of these letters. HMRC are combing through land registry records, and comparing the data to that requested from estate
...read more
17th December 2010
An oft misunderstood rule is the 10% wear and tear allowance. This is one of the best tax allowances available for landlords. Essentially, 10% of rents (less any utilities/council tax/any other bills that a tenant would usually pay) is subtracted from the rent.
However, you must choose between this treatment or the "replacements method" where you claim a tax deduction for
...read more
