Self-Assessment (Expenses - Property Income)

Tax Planning and Financial

Hi All,

I am trying to complete my self-assessment and I have a question related to claimable expenses for a rented property. I'm a private landlord.

My question, can I add the associated expenses of a one year tenancy agreement and of a two year tenancy agreement to the self-assessment.

The expenses included: Estate agent's Letting Fee, Admin Fee, Tenant Reference Cost. I had two tenancy changes in one year. The first agreement was for one year (which was terminated) followed by the second tenancy agreement for a two year period.

HMRC wording states:

There is a section under "EXPENSES for other property income (Legal, management and other professional fees)", which states:

You cannot deduct:

expenses incurred in connection with the first letting or subletting of a property for more than a year. These include legal expenses such as: the cost of drawing up a lease, agents' and surveyors' fees and commission

I am confused by the above wording.

Many thanks for anyone's help!