Per property, not per portfolio
Expenses are allowable against the property they relate to, and a portfolio-level total cannot be split back out at the end of the year. Record it where it happened and the apportionment is already done.
What people forget to claim
- Mileage to and from the property, at the HMRC rate for that tax year
- Professional fees, including referencing and inventory costs
- Replacement of domestic items, where it qualifies
- The finance costs that feed the Section 24 restriction rather than a straight deduction
Mortgage interest is not a normal expense
It is restricted, and it produces a basic-rate credit rather than a deduction from profit. Recording it as an ordinary expense overstates your relief, so it is treated separately and computed properly.
Bank Rate and a tracker mortgage
In your own account, when Bank Rate changes, each property with a tracker mortgage recorded gets a bell item within 7 days of the change, and you get one email unless reminders are paused or it is within your quiet hours. Both give an estimate of the new rate and payment, worked out from the mortgage record, for your lender to confirm. This is on every plan, not for an agency’s properties, and not for a property locked on the free plan.
In your own account, the cash flow forecast on Finance, on the trial and paid plans, and the Section 24 calculator, on a paid plan, add a note about each tracker. Neither changes an amount: the payment counts as recorded until you save the lender’s new figures.
Maintenance, under Insurance & mortgages, shows the Bank of England’s average 2-year fixed buy-to-let rate at 75% loan to value, with its month, once a mortgage is recorded and while that month is no more than four months old. It is an average, not a quote. That is on every plan, in your own account and in an agency workspace.
Then the tax pack
Nothing has to be re-entered. The Tax page reads what is here.
Bills that arrive by email
Bills by email. Forward a bill with its PDF or photo attached to your own bills address, made on the Receipts tab, and it waits there as a draft until you confirm it.
