Landlord Insurance and Tax Benefits
When you run a letting business and you buy a landlord insurance policy, you can claim the cost back through your business as an expense. If you have a good accountant, he or she will sort this out for you without any problems, but if you do your own self-assessment, here’s a small guide for you.
Is the total cost tax deductible?
Yes, you can claim back the whole amount that policy costs you for every policy you take out.
What other costs are tax deductible?
- Your water rates, council tax and gas and electricity costs
- Your maintenance and repairs to the property (not home improvements)
- Your landlord contents insurance for theft and damages
- Your interest on a mortgage to your buy the property
- Your costs of services, including the employee wages
- Your letting agents costs
- Your legal fees for court expenses
- Your accountant’s fees
- Your rents, ground rents and service charges
- Your phone calls, stationery and advertising for new tenant recruitment
Claiming for wear and tear costs!
You can claim for wear and tear cost for sofas, carpets and other goods like this for your property. The wear and tear allowance is 10% every year to replace items of furniture you need for your tenants.
Is HRMC aware of this fact?
HRMC know about the tax allowances landlords are able to claim back, including your landlord insurance premium. Always keep a record of items you need to replace and other costs that your business accumulates annually for your accountant.
HRMC web link:
http://www.hmrc.gov.uk/manuals/pimmanual/pim2020.htm
(link will open in a new window)
Is landlord insurance tax deductible on all my properties?
Yes, you can claim back your landlord insurance cost for every property you own no matter how big your business is.
Other recourses:
Which landlord tax information link: (links will open in a new window)
Do you need a landlord insurance policy?
If you need a policy right now, you’re in the right place for that. Just fill in a few tings like, your let property address, what you’re looking for and a contact number and insurance companies will compete for your business right from that form.
Hit us up on Social media
Recent Articles
-
Compare Landlord Insurance Quotes - Save Time & Money | UKLI Compare
Mar 27, 25 02:54 PM
Compare landlord insurance quotes and adequately cover your assets with buildings and contents insurance, or add extra landlord protection. -
No Deposit Van Insurance OR Pay Monthly | UKLI Compare
Feb 25, 25 05:48 PM
Compare no deposit van insurance companies and pay monthly, (cheaper) in under 5 minutes for a great policy. -
Compare Minibus Insurance | Quotes Business, Schools | UKLI Compare
Feb 12, 25 02:33 PM
Compare minibus insurance quotes for 9 seaters and 17 seaters and you could save a lot of time and money. -
Any Driver Minibus Insurance | Get Online Quotes | UKLI Compare
Feb 12, 25 02:23 PM
Compare quotes and get the right price on any driver minibus insurance with an experienced company. -
Campervan Insurance Policy With All The Support You Need
Feb 12, 25 01:02 PM
Do you need a first time or renewal campervan insurance policy and want to save time doing it onine? Try this... -
Campervan Insurance Phone Numbers are Here | UKLI Compare
Feb 12, 25 12:59 PM
Get your campervan insurance phone number after you get a quote from the expert help and guidance from the UK's best recreational vehicle insurance companies. -
Campervan Insurance Ireland | Northern and Southern Ireland
Feb 12, 25 12:56 PM
Compare campervan insurance in Ireland from reputable companies that can respond to you needs all around Northern and Southern Ireland. -
Campervan Insurance for a Week or Less | UKLI Compare
Feb 12, 25 12:50 PM
Get campervan insurance for a week for your short trips or borrowed campervan and make sure you have the proper cover in place. -
Campervan Insurance Dublin
Feb 12, 25 12:47 PM
campervan insurance Dublin -
Campervan Insurance Comparison Site | You Have It Campervan Owners!
Feb 12, 25 12:43 PM
Use a campervan insurance comparison site to get your cover in a timely manner and make sure you are safe online while comparing quotes. -
Compare Campervan Insurance Brokers | UKLI Compare.co.uk
Feb 12, 25 12:15 PM
Compare insurers and campervan insurance brokers to find a good deal on your policy with this small guide. -
Campervan Insurance Belfast | Get Quotes from Irish Companies
Feb 12, 25 12:12 PM
Compare campervan insurance companies in Belfast and save the bother going from website to website looking for quotes. -
Buy Campervan Insurance at The Right Price | UKLI Compare
Feb 12, 25 12:10 PM
Compare and buy campervan insurance with a specialist company you can trust with a quick comparison from Quotesearcher Limited. -
Multi-Campervan Insurance Quotes and Quick Online Form
Feb 12, 25 11:58 AM
If you have more than one campervan you might want to look at multi campervan insurance and you can find a policy at the end too. -
Nissan Vanette Campervan Insurance Quote Comparison
Feb 12, 25 11:56 AM
Nissan Vanette campervan insurance is a great way to cover your pride and joy and making a difference knowing you have cover in place. Get a quote now... -
Specialist Campervan Insurance | Get an Online Quote
Oct 19, 24 11:27 AM
Need specialist campervan insurance for a special kind a camper van then you might want to use a website who can help you out. -
Self Build Campervan Insurance and Motorhome Insurance
Oct 19, 24 11:24 AM
Self build campervan insurance comparison and what you need to know about self build campervan and the insurance they require before you hit the road. -
T25 Campervan Insurance Comparison That's There for You 24/7
Oct 19, 24 11:22 AM
Compare T25 campervan insurance for your pride and joy and you could save some hard earned money but one thing you will save on his time searching like mad for it. -
T4 Campervan Insurance | Fully Comprehensive Quotes Online
Oct 19, 24 11:20 AM
Compare T4 campervan insurance and cover your T4 campervan with a third party or a fully comprehensive policy and fast. -
T5 Campervan Insurance Made Easy With One Quote
Oct 19, 24 11:17 AM
T5 campervan insurance comparison that makes it easy to find the right cover for your T5 camper van. -
Need Campervan Insurance? Compare Quotes | UKLI Compare
Oct 19, 24 11:15 AM
Why you need campervan insurance for driving on UK roads and why the law requires you to have a policy. -
Drink Driver Campervan Insurance Comparison Service That Works
Oct 19, 24 10:54 AM
Compare drink driver campervan insurance and get a good comparison service and one that works for you after taking the time to fill in the form. -
Volkswagen Transporter Campervan Insurance
Oct 19, 24 10:50 AM
Compare volkswagen transporter campervan insurance and get quotes from reliable insurance companies you can trust online. Go ahead... -
VeeDub Campervan Insurance | Compare Quotes for all Models
Oct 19, 24 10:25 AM
VeeDub campervan insurance comparison for all your owned models of Volkswagen campervans that you own. -
Vintage Campervan Insurance | Compare Quotes and Get Covered Fast
Oct 19, 24 10:19 AM
When you need vintage campervan insurance for a project or a campervan that needs special attention you may want to check out the right insurance company. Here can... -
Campervan Insurance for Over 80 Years Old - UKLI COMPARE
Oct 19, 24 10:16 AM
Campervan insurance for over 80 years old is as easy as taking a quote and let the expert sort you out with a policy. -
Business Campervan Insurance or Quotes For Motorhome Hire Insurance
Oct 19, 24 10:14 AM
Business campervan insurance or motorhome hire insurance for when you rent out campervans for business purposes -
Any Driver Campervan Insurance Comparison Quotes Online
Oct 19, 24 10:11 AM
If you want any driver campervan insurance for business or pleasure it's so simple as long as you meet the criteria or the insurer. Find out more here... -
Short Term Campervan Insurance Comparison and With Free Quotes
Oct 19, 24 10:08 AM
Short term campervan insurance can be a life saver and there are some companies who provide this cover. Get a quote and see. -
Classic Campervan Insurance Comparison | Get The Job Done Right!
Oct 19, 24 10:05 AM
Compare classic campervan insurance for all old models including classic VW's or transporters and all other models you own.
