Landlords Tax Tips 2
This is the second in a series of articles from PGA Self Assessments which looks at the different ways landlords can benefit by using our services to complete their tax returns.
Do you ever visit your investment or buy to let properties? do you travel by car? do you claim mileage against the property taxable profits? our guess is that most people would answer yes to the first two questions, however not so many would answer yes to the third question.
Iy you travel to an investment property for the sole purpose of conducting your property business then the mileage is
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allowable, you may travel to check the property after a tenant leaves, for a pre let meeting or maybe to discuss some matters with the tenant or agent
looking after the property. All these trips should be noted down and the mileage claimed against the profits of the property at the current rate of 45 pence per mile. (from 6 April 2011). Easier still just keep a record of your miles and
let PGA self assessment prepare your landlords tax return for you, phone us on 01666 8322256 and we will be pleased to discuss your requirements with you.