Given the restrictions imposed and non-classification of our business as an essential service, there is much frustration in our reduced ability to function as Landlords.
There is a gap in the ‘normal’ operation of a Landlord yet there is still work that we can do to be productive in this time.
You could be missing out on tax rebates purely because your documentation is not in order. Keeping a record of everything is vitally important both for your own sake and the sake of your returns. Anything to do with the repair, cleaning or decorating of your property may be tax deductible, no matter how small the expense seems at the time, it all adds up.
- Check purchases/investments in anything got to do with your property.
- Did you retain an Invoice?
- Have you got the receipt?
- Have you it filed?
Perhaps use this time to get your invoices and receipts in order.
Do You Have A Question About Allowable Expenses? Contact firstname.lastname@example.org