Accounting Journal

Accounting Journal

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Accounting Journal
Accounting Journal
Claiming a deduction for the expenses of a property business

Claiming a deduction for the expenses of a property business

Asif Patel's avatar
Asif Patel
Feb 20, 2025
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Accounting Journal
Accounting Journal
Claiming a deduction for the expenses of a property business
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Expenses will be incurred in running a property business. To ensure that tax is not paid unnecessarily, it is important that all allowable expenses are deducted in calculating the profits for that business. However, to avoid unwanted attention from HMRC, it is important to understand which expenses can be deducted, and which cannot.

An expense is revenue…

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