Client paid £500 fee for bailiff to repossess property let to tenant under a 3 year lease ( not a relet). At the same time he paid the bailiff company £150 to replace the lock. Are these costs allowable or not in the property income calculation.
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Well what do you think?
Under what grounds would you allow it?
What grounds disallow it?
What is the specific point that is troubling you one way or other?
Surely the costs in effect pertain to debt recovery/ mitigation of future bad debts, in 20 years we have never taken possession of any of our property from a tenant except because they were behind with the rent.
"Other examples of allowable legal and professional costs that may be incurred include:"
"the cost of evicting an unsatisfactory tenant in order to relet the property."
https://www.gov.uk/hmrc-internal-manuals/property-income-manual/pim2205
Portia
Still at your desk, no mad office party?
I will no doubt be getting a call this evening to chauffeur other half and her work colleagues (teaching staff have a remarkable ability to drink to excess especially when all gathered in a herd.)
I am on holiday and already bored or disinclined to expend any energy, hence sitting at midday posting on here rather than tidying up downstairs or clearing the accumulated pile of rubbish that is supposed to be taken to the skip.
Anyway thanks for the entertainment during the year and your endeavours to educate, albeit at times falling on stony ground.
Merry Christmas
Edit- Just realised that casting pearls before swine would have been a far more appropriate allusion.
I used to have two sisters in the field. (funny, both have since escaped to do other things, anything but teaching)