What property expenses can you claim to reduce your tax bill? In this video, we look at the different types of allowable expenses landlords and property investors can claim against income from rental property.
Expenses can be offset against profits, reducing the amount of tax you’ll pay, either each year or when you come to sell a property. This is why it’s really important to record and claim all expenses from running your property business. Provestor CEO, James, covers the differences between Capital Expenses - which are claimed when you sell the property - and Revenue Expenses, claimed at the end of each tax year.
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