13:37 PM, 14th June 2011, About 11 years ago 1
Many landlords surveyed by Paragon could save money on tax, they’ve found not all were as efficient as they could be.
Of those questioned, less than half are claiming their advertising (45%), transport costs to visit your property (49%) and on any energy efficiency improvements (41%) as tax allowances.
The figures show big deficits in the people deducting management and letting fees from their income tax, 37% of landlords don’t claim on their legal or accounting fees either.
Nearly 10% of landlords aren’t claiming on their insurance and 13% aren’t on their mortgage interest. Strangely, 5% don’t claim on their repairs and maintenance but a massive 34% don’t on wear and tear.
Paragon has created a guide for landlords with Perrys Chartered Accountants which is available through their website, lifting the lid on tax and sure to save landlords money.
Nigel Terrington, Paragon’s Chief Executive, says: “Good tax planning is key. How landlords implement, manage and run their tax affairs could have a major impact on landlords’ property investments and their overall performance.
“Tax is a complex area and we are confident that our Tax Guide will help landlords obtain a better grasp of tax matters. It’s vital that landlords take advantage of the allowances open to them to maximise their return on investment.”
To download your own copy, click here
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|