Accountancy fee deduction - Form 11

[Reick]

As a PAYE worker, I was trying to determine if I can deduct accountancy fees as a valid residential rental property expense on this year form 11?

(I have searched the threads but did not find this question answered.). The accountancy work done last year was to file prior form 11. I am doing my own form this year.

If this is an allowable expense, would accountancy fee go on line 205 (F) for form 11(2021)? (as an 'Other' expense).
Or is accountancy fee not deductible unless your main business is rental income?

 

[T McGibney]

It is of course deductible against rental income - unless it was claimed as an accrued deduction last year which it probably should have been. If claiming now, include as an other expense.

 

[Reick]

oh, great, thanks! I don't think it was claimed as an accrued deduction last year. I searched the form 11 for 'accrued deduction' and didn't find anything relevant. It wasn't included in line 205 F 'other' last year I notice. Appreciate the quick help!

 

[T McGibney]

There is no space on the Form 11 for 'accrued deduction' but if you have last year's rental profit and loss account, you can presumably see there whether or not it's included.

 

[Reick]

Thanks. The accountant just put in the rental profit that I gave, on the form 11 (rental income less a few expenses but not accountancy expenses for that year) ,hmm, I never got any rental P&L as such....

 

[Reick]

Hi again, could I just check again,..just to ensure the question I was asking is accurate.... The cost of doing the form 11 last year (primarily for the rental income but did have CGT on it also) can be entered as a deductible expense on this year's form 11? ( as an 'other' expense) for a PAYE worker?

 

[T McGibney]

Hi again, could I just check again,..just to ensure the question I was asking is accurate.... The cost of doing the form 11 last year (primarily for the rental income but did have CGT on it also) can be entered as a deductible expense on this year's form 11? ( as an 'other' expense) for a PAYE worker?

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