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[null,null,null,null,null,null,null,null,null,"Property Tax Spreadsheet & Glossary"]
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[null,null,null,null,null,null,null,"For full functionality of this spreadsheet, please enable macros by clicking \"Enable Content\" at the top of the window"]
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[null,null,null,null,null,null,null,null,null,null,null,"For the latest spreadsheet, visit our website ->"]

{"sheet":"Glossary","index":1,"n_rows":57,"n_cols":4,"rows_kept":57,"cut":false,"hidden":false,"merged":[]}
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[null,null,"Property Tax Glossary"]
[]
[null,null,null," "]
[null,"Please find below a glossary of landlord related terms, what they mean and why they are relevant."]
[null,"If you would like to discuss any in further detail, please contact us https://uklandlordtax.co.uk/"]
[]
[null,"Term","Definition","Property Sheet Column Reference"]
[null,"64-8","This form allows accountants to act on the landlord's behalf with HMRC, giving them permission to discuss the client's situation."]
[null,"Accountancy Fees","The fees paid to accountants for the completion of your tax return are allowable on the tax return, depending on when the fees are paid.","I - Accounts and Legal Fees"]
[null,"Administration Expenses","The costs involved in managing your rental properties (phone, stationery, business use of home). Normally only allowable if a letting agent does not manage your properties on your behalf.","N - Other Expenses (Please Provide Description)"]
[null,"Advertising","The costs incurred when advertising your property as available to rent by tenants. The costs of advertising the property for sale is not allowed against rental income but can be claimed for Capital Gains Tax purposes.","N - Other Expenses (Please Provide Description)"]
[null,"Breakdown Cover","Insurance which helps cover the costs should something go wrong with your boiler, central heating or white goods.","G - Appliance Breakdown and Landlord Insurance"]
[null,"Business Use of Home","HMRC may allow costs for the use of your home in order to manage your rental properties. Please contact us if you believe you may be able to claim.","N - Other Expenses (Please Provide Description)"]
[null,"Capital Expenses","The cost of purchasing or improving a residential property (e.g. an extension) is not allowed as revenue expenditure against your property income."]
[null,"Capital Gains Tax","Should you sell your rental property, capital gains tax may be due. Please inform us of any property sale, so that we may advise on the next steps. Most sales need to be reported within 30 days of completion of the sale."]
[null,"Council Tax","A local tax based on the estimated value of the property, used to fund local services. This usually is paid by the tenant, however in some cases the landlord is responsible for making the payments.","E - Ground Rent, Rates and Council Tax"]
[null,"Deposit Protection Scheme","All deposits taken by landlords must be protected by a deposit protection scheme. The costs involved in this are allowable on your tax return.","N - Other Expenses (Please Provide Description)"]
[null,"Electrical Certificate / EPC","An EPC (energy performance certificate) is a certificate that shows how energy efficient a property is. Landlords are legally required to obtain one, and they are valid for 10 years.","H - Repairs, Maintenance and Renewals"]
[null,"Finder's Fee","A fee charged by an agent for finding a tenant to rent a property. Some landlords also pay a finder's fee to a property finding service which is a capital cost and is not allowable against rental income.","I - Accounts and Legal Fees"]
[null,"Freehold Property","Property including the underlying land which is owned outright (subject to any mortgages)."]
[null,"Furnished Holiday Let (FHL)","To qualify as an FHL, the property must be available for rent for 210 days per year, let for at least 105 days and each let must not be longer than 31 continuous days. For more information, please contact us."]
[null,"Gas Certificate","As a landlord, you are legally obligated to ensure all of your properties' gas appliances are safe to use and obtain a Gas Safety certificate (CP12) each year.","H - Repairs, Maintenance and Renewals"]
[null,"Ground Rent","The payments made by the holder of a leasehold property to the freeholder, usually paid by owners of a flat or similar property.","E - Ground Rent, Rates and Council Tax"]
[null,"Leasehold","Property is owned for the length of the lease agreement with the freeholder. Often, leaseholders own the property but not the underlying land."]
[null,"Legal Fees","You cannot claim any legal fees in connection with the purchase of a property against income. These will be allowable for Capital Gains Tax purposes when you sell the property. Other legal fees may be allowable.","I - Accounts and Legal Fees"]
[null,"Letting Agent Fees","The fees charged by letting agents to collect rent and/or manage your rental properties. ","C - Letting Agent Fees & D - VAT On Agent's Fees"]
[null,"Life Insurance","A type of insurance that is often taken out to pay a lump sum in the event of death to cover costs such as the repayment of a mortgage. This is not allowable on your tax return.","Not Claimable"]
[null,"Losses","When your expenses are greater than your rental income, a loss is incurred. Losses can usually only be carried forward to the next tax year, to offset against any future profits. Losses cannot normally be claimed against other income."]
[null,"Mileage","It is possible to claim mileage to and from your rental property, if you do not have an agent managing your property. You will need to keep a log of all journeys undertaken.","P - Miles Travelled"]
[null,"Mortgage - Interest Only","A type of mortgage where the only payments made are towards the interest charges on the loan. These payments can be entered under \"mortgage interest only\" on the property sheet..","L - Mortgage Interest Only"]
[null,"Mortgage - Repayment","A type of mortgage where the payments made are towards both the interest charged and the capital outstanding. Only the interest portion of these payments is allowable. Please do not enter the repayment amounts on the spreadsheet.","L - Mortgage Interest Only"]
[null,"Mortgage Arrangement Fee","The fees charged by a lender when setting up your mortgage which is an allowable expense.","M - Mortgage Arrangement Fees and Bank Charges"]
[null,"Mortgage Broker Fees","Should you choose to use a broker, rather than going directly through the lender, you may be charged a fee. This fee would be allowable on your tax return.","M - Mortgage Arrangement Fees and Bank Charges"]
[null,"Mortgage Interest Certificate","A certificate that shows the annual mortgage interest paid by the landlord. These usually cover the tax year 6th April to 5th April. Please provide this to the accountant as proof of the mortgage interest paid."]
[null,"Mortgage Statement","A monthly or annual statement showing the payment(s) made by the landlord towards their mortgage. Please provide these in lieu of a mortgage interest certificate."]
[null,"Non Resident Landlord Scheme","This scheme allows non-resident landlords to register with HMRC so that the agent/tenant does not have to deduct tax from rental payments. This does not exempt landlords from having to pay tax on their rental income."]
[null,"NRL1","The form used to apply for the Non Resident Landlords Scheme."]
[null,"NRL6","A certificate showing the amount of income tax deducted either by a tenant or a letting agent to a non-resident landlord."]
[null,"Other Expenses","If you are unsure on where an expense should go, or cannot find a matching column heading, put the expense as an other expense. Please provide a description to explain what the expense is.","N - Other Expenses (Please Provide Description)"]
[null,"Other Services Provided","Any services provided by the landlord to the tenant, such as cleaning, TV subscriptions or broadband for the property.","K - Power, Telephone and Other Services Provided"]
[null,"Power Costs","The cost of electricity, gas or other power for your rental property.","K - Power, Telephone and Other Services Provided"]
[null,"Property Income Allowance","A £1000 allowance you can claim against your rental income, instead of claiming your expenses. It is beneficial to claim this if your total expenses are less than £1000 as you cannot claim both."]
[null,"Property Insurance","Insurance payments to cover the property and/or its contents.","F - Buildings and Contents Insurance"]
[null,"Rates","Includes expenses such as water rates and council tax.","E - Ground Rent, Rates and Council Tax"]
[null,"Rent a Room","The scheme where landlords rent out individual rooms in their property. Landlords can either claim the £7500 allowance or a portion of their property costs against the gross rental income."]
[null,"Rent Paid / Subletting","If you do not own your rental property and sublet it to a subtenant, the rent paid to the landlord is allowable.","N - Other Expenses (Please Provide Description)"]
[null,"Gross Rental Income","The monies paid to the tenant or letting agent by the tenant before any deductions are made (such as letting agent fees).","B - Rental Income (Before Any Deductions)"]
[null,"Repairs and Maintenance","Works done to the property to bring it back to its original state, such as decorating, repairs to rooves, doors and windows, and gas/electric certificates. Work carried out to improve a property are capital and are not allowed against income.","H - Repairs, Maintenance and Renewals"]
[null,"Replacement Items","From 2016/17, you are able to claim the cost of replacing existing moveable items such as sofas and freestanding white goods. Carpets are also covered by replacement item relief. Replacing fixed items is classed as a repair.","H - Repairs, Maintenance and Renewals"]
[null,"SA1","The form sent to HMRC to register for self assessment."]
[null,"Service Charges","Charges to cover maintenance, repair and other expenses incurred by the freeholder usually in the case of flats. These payments may sometimes include the payment for ground rent.","J - Service Charges"]
[null,"SPV","Special Purpose Vehicle - A type of limited company to which mortgage lenders will offer mortgages."]
[null,"Travel Expenses","Costs of using taxis and public transport for the purpose of managing your rental property. These costs are not allowable if you already have a letting agent managing your property.","N - Other Expenses (Please Provide Description)"]
[null,"UTR","Unique Taxpayer Reference - A 10 digit reference number issued to you once you have registered for self assessment."]
[null,"Valuation Fees","The fee charged by your mortgage lender for commissioning a mortgage valuation. May be claimable against capital gains tax should you come to sell the property."]
[null,"Wear & Tear Allowance","This allowance (10% of net rents) was only available prior to 6th April 2016 where a property was let fully furnished. From 6th April 2016, this has been replaced by replacement item relief."]

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[]
[null,null,"Records You Need To Keep"]
[]
[null,null,null," "]
[null,"Please find below a glossary of landlord related terms, what they mean and why they are relevant."]
[null,"If you would like to discuss any in further detail, please contact us https://uklandlordtax.co.uk/"]
[]
[null,"Record","Details","Should I Send This To The Accountant?"]
[null,"Bank Statements","It is advisable that you have access to bank statements, for proof of rental income or expenditure.","Upon request"]
[null,"Completion Statements","You should keep any paperwork involved in the purchase and sale of any property. This includes completion statements, which show the purchase/sale price and date.","Upon request - should you sell a property"]
[null,"Electrical Certificate","EPCs need to be available to prospective tenants as soon as your property is available to rent. In Scotland,  EPCs must be displayed clearly in your rental property.","No"]
[null,"Gas Certificate","Landlords should retain their CP12 gas safety certificate for at least two years.","No"]
[null,"Insurance Documents","In the event you need to make a claim, it would be useful to have copies of your insurance documents.","No"]
[null,"Leasehold Agreement","The documentation with the freeholder of the property, which states how long you will own the property for.","No"]
[null,"Letting Agent Statements","Statements provided by your letting agent detailing any income received or expenses paid by your letting agent on your behalf.","Yes"]
[null,"Mileage Log","If you manage your rental property yourself, you should keep a record of all management related journeys you take. This includes the start point, the destination and the miles travelled.","Yes - if you do not use a letting agent to manage the property"]
[null,"Mortgage Interest Certificate","A certificate that shows the annual mortgage interest paid by the landlord. These usually cover the tax year 6th April to 5th April.","Yes"]
[null,"Mortgage Statements","A monthly or annual statement showing the payment(s) made by the landlord towards their mortgage.","Yes - If you do not have a certificate of interest"]
[null,"NRL6","As accountants, we will need to see proof of the non-resident landlord tax you have paid, so please keep copies of your NRL6 certificates.","Yes"]
[null,"Receipts","For any expense incurred in relation to your rental property, you should keep a receipt. It is recommended that you keep receipts for up to 6 years.","Yes - For individual items over £500 or upon request"]
[null,"Remortgage Documents","If you have remortgaged your rental property, you should keep a record of the documents provided. They may show expenses incurred which may be allowable on your tax return.","Yes"]
[null,"Tenancy Agreement","It is far easier to prove what has been agreed between a tenant and a landlord with a written tenancy agreement, compared with a verbal agreement.","No"]

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[]
[null,null,null,null,null,null,"Property Income & Expenditure Spreadsheet",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"For multiple years or properties, click here to add more sheets ->"]
[]
["Name",null,null,null,null,null,null,"Property address",null,null,null,null,null,null,null,null,null,"For the above button to work, please enable macros."]
["Rental Income for the year ended 5th April ",null,null,null,"Please Select",null,null,null,null,null,null,null,null,null,null,null,null,"Alternatively, copy this sheet manually onto a new tab."]
["Do you use a letting agent?",null,null,null,"Please Select"]
["Number of days the property was used privately"]
["For furnished holiday lets:",null,"No. of days let ",null,null,null,null,"Have you ceased letting?",null,"Please Select",null,null,null,null,null,null,null,"Where there are multiple expenses in one month,"]
[null,null,"No. of days available to let",null,null,null,null,"Please provide the date",null,null,null,null,null,null,null,null,null,"please provide a breakdown in the boxes below."]
[null,null,null,null,null,null,null,null,null,null,"Power, Telephone and Other Services Provided",null,null,"Other Expenses (Please Provide Description)"]
[null,"Rental Income (Before Any Deductions)",{"$f":"IF(E6=\"Yes\",\"Letting Agent's Fees\",\"\")","v":""},{"$f":"IF(E6=\"Yes\",\"VAT on Agent's Fees\",\"\")","v":""},null,null,"Appliance Breakdown and Landlord Insurance",null,null,null,null,null,null,null,null,null,"Net amount received"]
[null,null,null,null,"Ground Rent, Rates and Council Tax","Buildings and Contents Insurance",null,"Repairs, Maintenance and Renewals","Accounts and Legal Fees","Service Charges",null,"Mortgage Interest Only","Mortgage Arrangement Fees and Bank Charges",null,"Non-Resident Tax Deducted"]
["Date",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Miles Travelled"]
[{"$f":"IF(E5=\"Please Select\",\"\",E5-1)","v":""},{"$f":"IF(E6=\"Please Select\",\"Please answer the letting agent question above\",IF(E6=\"Yes\",\"Enter your income and expenses from your agent statements in the section. All other expenses should be entered below\",\"Enter your income and expenses in this section\"))","v":"Please answer the letting agent question above"},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Breakdown of Expenses"]
["April",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"B15-SUM(C15:O15)","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["May",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["June",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["July",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["August",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["September",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["October",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["November",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["December",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[{"$f":"IF(E5=\"Please Select\",\"\",E5)","v":""},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["January",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["February",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
["March",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,0]
[{"$f":"IF(E6=\"Yes\", \"Agents Totals\", \"\")","v":""},{"$f":"SUM(B15:B39)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"B40-SUM(C40:N40)","v":0}]
[{"$f":"IF(E5=\"Please Select\",\"\",E5-1)","v":""},{"$f":"IF(E6=\"Yes\", \"Enter the payments made directly by you (not by your agent)\", \"\")","v":""},null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IF(E6=\"Yes\", \"Breakdown of Expenses\", \"\")","v":""}]
["April"]
[]
["May"]
[]
["June"]
[]
["July"]
[]
["August"]
[]
["September"]
[]
["October"]
[]
["November"]
[]
["December"]
[]
[{"$f":"IF(E5=\"Please Select\",\"\",E5)","v":""}]
["January"]
[]
["February"]
[]
["March"]
[]
["Total",{"$f":"SUM(B40:B66)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,"Profit",{"$f":"B67-SUM(C67:N67)","v":0}]
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["Yes"]
["No"]
["Please Select"]
[]
[2030]
[2029]
[2028]
[2027]
[2026]
[2025]
[2024]
[2023]
[2022]
[2021]
[2020]
[2019]
[2018]
[2017]
[2016]
["Please Select"]