GPEL Posted January 4, 2007 Report Share Posted January 4, 2007 Unfortunately, I've just gone through my first County Court re-possession under a Section 8 Notice for rent arrears. Very straight forward, so long as everything is in order. However, if using a solicitor, it can be quite costly. My question is: are my re-possession costs classed as tax deductable expenses, such as the court fee and representation? Any guidance would be appreciated. Link to comment Share on other sites More sharing options...
Melboy Posted January 4, 2007 Report Share Posted January 4, 2007 Unfortunately, I've just gone through my first County Court re-possession under a Section 8 Notice for rent arrears. Very straight forward, so long as everything is in order. However, if using a solicitor, it can be quite costly. My question is: are my re-possession costs classed as tax deductable expenses, such as the court fee and representation? Any guidance would be appreciated. In a word........ Yes. Full costings can be entered on your Annual Tax Return. Link to comment Share on other sites More sharing options...
GPEL Posted January 4, 2007 Author Report Share Posted January 4, 2007 In a word........ Yes. Full costings can be entered on your Annual Tax Return. Thanks, new territory despite having let many properties previously. Link to comment Share on other sites More sharing options...
plym77 Posted January 5, 2007 Report Share Posted January 5, 2007 absolutely! They are a cost of your letting business and as such are claimable against your rental income Regards Sherena Link to comment Share on other sites More sharing options...
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