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Visits to property for AGM and management company meetings

20/05/2019 13:05:43
I am on the Board for the residents management company of the development where I own my rental property. over the last year I have travelled to the area a number of times to attend Board meetings, the AGM and an EGM. Would travel expenses for these journeys be allowable? I am only on the Board to ensure effective running of the development and protect the viability of my rental business and investment in it.

Many thanks
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Re:Visits to property for AGM and management company meetings

20/05/2019 14:25:15
Hi,

Thank you for your question.

In order to claim an expense against your property income it must be a necessity for your property business.

Guidance on Allowable expenses can be found here:

Income Tax when you let property: work out your rental income

In order to claim the expense must also meet the wholly and exclusively criteria as laid out in the link below:

PIM2220

If it is your personal choice to attend the meeting and is not a necessity of running your business then it is not a claimable expense.

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