TAX

[max5445]

I will be letting my property shortly and have British Gas Homecare, which covers my boiler, radiators and electrics (annual boiler and electric service and breakdowns for a monthly fee) can i claim the full amount of this montly fee back from the taxman. Regards

[Melboy]

Short answer: Yes.

[Guest caravanj]

E.G. If you pay £200 per annum to British Gas & you pay 20p in the £ income tax you will not get £200 back from HMRC, you will pay 20p in the £ on £200 less tax or £40 in cash terms.

The same applies to anything else you spend to maintain your rental property. You can also offset any interest on a buy-to-let mortgage against profit from a rental property.

[Richlist]

British Gas Homecare is, in my opinion, a complete waste of money. I have not had any boiler cover for at least 20 years and in that time I've had X3 repairs..... each repair costing about £200 to fix.

It wouldn't surprise me that if your boiler breaks down, BG will find some problem that isn't covered under the policy.

I never buy anything that has British in the name unless there is no alternative.

[Chestnut]

British Gas Homecare expensive? Yes - but horses for courses!

If you have a large portfolio you would probably do well to cultivate a relationship with a local Gas-Safe man in return for plenty of work from you.

On the other hand, with just one or two rentals, British Gas Homecare is probably quicker to respond and more reliable, certainly in my experience. I get annual reminder, annual service, annual gas certificates for appliances, and following day breakdown response with free parts and labour covering everything hot back to gas meter. This has included new parts for failed boiler, failed clock programmer replaced by latest digital upgrade at no extra charge, and even replacement of leaking meter within 1/2 hour, spotted by BG man who phoned Transco whilst proceeding with the service.

Worth it for peace of mind - tenant has BGH contact details if I'm n/a to organise.

To confirm answer to question, annual charge is a tax deductable expense, as explained by caravanj.

[Richlist]

British Gas is viewed by many of my associates as having a very poor reputation and not worth recommending to your worst enemy.

Customer service considered as bad as Santander, WH Smith, Lloyds bank , Estate Agents generally and about as welcoming as a traffic warden.

Don't waste your money on BG.

[Grampa]

I only have a handfull of properties that the landlords have one of these BG policies and the one time I had to call on it on behalf the the landlord they were very quick at coming out and fixing the problem.

I know only one expirence doesnt really mean anything.

I still wouldnt recommend it to landlords. If you have a service every year with the gas check (it only costs me about £20 to add the service on) that will resolve or stop a lot of beakdowns.

Out of the 100's of properties I manage i get very few beakdowns and when I do a local plumber will come out fairly quickly.

You are better off saving the policy fee each year to put towards works as and when needed.

[max5445]

Thank you all for your fast responses and advice, besides british gas are there any other companies that do a similar thing to homecare?

[Richlist]

There are loads ........here's a few :

http://www.landlordz...kdown-plans.htm