Tax Self assesment

[manilaseagull]

My self assessment for 2009-10 has finally caught up with me from manila.

I need to fill it out because I rented a house out in the UK for 2 years

Is there any experts here who could give me some advice about what I can and cannot claim for...

I did not actually make any profit as the income from the house only just covered the mortgage, and when u deduct insurances etc it was actually a loss...BUT I am confused how to cover it on the on line assessment form.

Any help please.......

 

[Gazwag]

You can only claim the interest not the mortgage payments. Any loss cannot be set against your other income only property income so if you have none other it will be lost.

 

[Gully]

One of the things you can offset, apparently, is for a visit to the property once a year...guessing that you had to come back from Manilla that could be a fair chunk of your tax liability removed in one fell swoop!

Amongst the other items you can offset are maintenance on the property, anything that maintains a rentable and acceptable condition but that doesn't actually improve it, such as a conservatory. You can include things like the gas safety check, visits by a plumber or some painting and decorating.

 

[manilaseagull]

One of the things you can offset, apparently, is for a visit to the property once a year...guessing that you had to come back from Manilla that could be a fair chunk of your tax liability removed in one fell swoop!

Amongst the other items you can offset are maintenance on the property, anything that maintains a rentable and acceptable condition but that doesn't actually improve it, such as a conservatory. You can include things like the gas safety check, visits by a plumber or some painting and decorating.

This is what I am not sure about,

The first year the assement went through no prob and I got a rebate, this year when I put the figures in on line it said I owed them money....

I contacted an online acountant and they want £250!!!! not worth it for 1 property.

Im not sure about claiming fares back to the property ,

Any acountants here who will take a phone call and offer some advice?