We explain whether you can claim your landlord insurance policy payments as an allowable expense.
Yes, you can usually claim the payments for your landlord insurance as allowable expenses for your tax return.
This includes the cost of common/standard covers such as landlord buildings, landlord contents, rental income protection, landlord home emergency, alternative accommodation and landlord loss of keys, as well optional ones you may need such as terrorism (in the unlikely event that your property is damaged or destroyed by an act of terrorism).
Alison Wild BCom (Hons), MAAT, MATT, Taxation Technician is a highly respected industry professional who has been working with and advising SMEs in areas including tax, pensions, insurance and marketing for over 25 years. She is a member of the Association of Accounting Technicians (AAT) and Association of Tax Technicians (ATT) and also has 20 years' experience as a residential landlord.
Date: December 27, 2023
Category: Commercial Property