What landlords should be tracking before the tax year ends

Ask any accountant what makes a landlord's tax return painful and the answer is rarely the tax. It's the records — twelve months of rent, repairs, insurance, certificates and mileage reconstructed from memory and bank statements in the last week of January.

The landlords who find self-assessment easy are the ones whose records are kept as the year happens: rent logged against the right property, each expense categorised when it's incurred, and certificates and invoices filed where they can be found.

The categories that most often get missed are the small recurring ones — landlord insurance, letting agent fees, safety certificates, subscription services, and the difference between a repair (usually deductible) and an improvement (usually not). Getting that distinction right, item by item, is where accurate records pay for themselves.

This is also why we built the Full Management with Accountancy service with Gilbert & Co Accounting: the same team that collects your rent and coordinates your repairs keeps your books, so the record-keeping is a by-product of the management rather than a separate chore.

One caveat, and it's an important one: this article is general information, not tax advice. Your position depends on your circumstances, and you should confirm the details with a qualified accountant — ours or your own.