{"id":17490,"date":"2018-07-12T15:28:28","date_gmt":"2018-07-12T15:28:28","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=17490"},"modified":"2018-07-13T12:12:17","modified_gmt":"2018-07-13T12:12:17","slug":"is-landlord-insurance-tax-deductible","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/is-landlord-insurance-tax-deductible\/","title":{"rendered":"Is Landlord Insurance Tax Deductible?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span style=\"font-weight: 400;\">You will be happy to know that <a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\">Landlord Insurance<\/a> is tax deductible. <\/span><\/p>\n<h2><b>What Is <a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\">Landlord Insurance<\/a>?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\">Landlord Insurance<\/a> is simply an insurance policy that covers any financial losses that are associated with <a href=\"https:\/\/www.thehouseshop.com\/property-to-rent\" title=\"rental properties\">rental properties<\/a>. The policy will protect both the <a href=\"https:\/\/www.thehouseshop.com\/landlords\">landlord<\/a> and the building against damages, disasters and accidents. It is there to protect a landlords biggest asset and ensure that they are confident that they are covered should anything go wrong. <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\">Landlord Insurance<\/a> offers you peace of mind and the confidence that you are covered in the event that anything happens to your property. <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\">Landlord Insurance<\/a> can be moulded to suit your needs and will protect both yourself and your property against anything from accidental or malicious damage, to loss of rent. <\/span><\/p>\n<h2><b>Is It Tax Deductible?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\">Landlord Insurance<\/a> can be claimed as a business expense and therefore can be declared to HMRC. The cost of insuring your property is an allowable expense as your Buy-To-Let property is a business. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is worth noting that <a href=\"https:\/\/www.thehouseshop.com\/landlords\">landlords<\/a> can claim expenses against things that are :<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">\u2018Wholly and exclusively for the purposes of renting out the property\u2019<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A revenue and not a capital expense<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A like-for-like replacement and not an improvement<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">We advise keeping all records of purchasing your insurance and all subsequent receipts or statements. An in-depth record means that you won\u2019t be caught out by the taxman when they want proof that this is a business expense. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If HMRC decides to investigate your taxes further then they are going to want written proof of all of the costs you have accrued and claimed for. Making sure that all of these are easily accessible will make the whole process run a lot smoother. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can <\/span><a href=\"https:\/\/www.gov.uk\/guidance\/income-tax-when-you-rent-out-a-property-working-out-your-rental-income\"><span style=\"font-weight: 400;\">find more about your tax obligations here.<\/span><\/a><\/p>\n<h2><b>Other tax deductible insurances:<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Buildings Insurance<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This is insurance that covers your property for any damage, either exterior or interior. Usually, this policy covers disasters such as flooding or fire.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Contents Insurance<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This will cover your own contents in the property. Most landlords will supply tenants with white goods and some furniture. This cover makes sure that all of your items are protected against loss or damage. <\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.thehouseshop.com\/rent-protection-insurance\"><span style=\"font-weight: 400;\">Rent Protection Insurance<\/span><\/a>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Rent arrears are a growing fear amongst landlords, as <a href=\"https:\/\/www.thehouseshop.com\/rentscore-plus\">rental payments<\/a> become less of a priority for tenants. Sometimes, even the best of tenants can fall into arrears. This <a href=\"https:\/\/www.thehouseshop.com\/rent-protection-insurance\">insurance<\/a> makes sure that you get your rent regardless of whether your tenant can\u2019t or won\u2019t pay.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Property Owners Liability Cover<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">If your tenants, or one of their visitors, is injured by your property then you could be liable. This insurance protects you against any compensation claims where your tenant hurts themselves as a result of your property.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">There are other insurances that are tax deductible, so it is always worth checking! Tax deductible items all help to get you the most profit out of your Buy-To-Let. <\/span><\/p>\n<h2 style=\"text-align: center;\"><a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\"><span style=\"font-weight: 400;\">Get your Landlord Insurance now!<\/span><\/a><\/h2>\n<p><a href=\"https:\/\/www.thehouseshop.com\/landlord-insurance\"><img loading=\"lazy\" class=\"aligncenter wp-image-17486\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/07\/ths.png\" alt=\"\" width=\"700\" height=\"432\" \/><\/a><\/p>\n<h2><span style=\"font-weight: 400;\">Read more here:<\/span><\/h2>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/5-undeniable-reasons-to-get-landlord-insurance\/17485\/\"><span style=\"font-weight: 400;\">5 Undeniable Reasons to Get Landlord Insurance<\/span><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/is-landlord-insurance-a-legal-requirement\/17513\/\">Is Landlord Insurance a Legal Requirement?<\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/is-landlord-insurance-tax-deductible\/17490\/\">Is Landlord Insurance Tax Deductible?<\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/a-beginners-guide-to-landlord-insurance\/17132\/\"><span style=\"font-weight: 400;\">A Beginners Guide to Landlord Insurance<\/span><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/the-benefits-of-landlord-insurance\/16167\/\"><span style=\"font-weight: 400;\">The Benefits of Landlord Insurance<\/span><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/landlord-insurance-what-you-need-to-know\/2796\/\"><span style=\"font-weight: 400;\">Landlord Insurance: What You Need To Know<\/span><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/worrying-new-figures-for-landlords\/\"><span style=\"font-weight: 400;\">Worrying New Figures For Landlords<\/span><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/choosing-the-right-landlord-insurance-for-you\/2772\/\"><span style=\"font-weight: 400;\">Choosing the Right Landlord Insurance for You<\/span><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/top-insurance-claims-by-landlords-revealed\/7240\/\"><span style=\"font-weight: 400;\">Top Insurance Claims by Landlords Revealed<\/span><\/a><\/h3>\n<h3><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/what-is-rent-protection-insurance\/16840\/\"><span style=\"font-weight: 400;\">What is Rent Protection Insurance<\/span><\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>You will be happy to know that Landlord Insurance is tax deductible. What Is Landlord Insurance? Landlord Insurance is simply an insurance policy that covers any financial losses that are associated with rental properties. The policy will protect both the<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/is-landlord-insurance-tax-deductible\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":17493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[1,581,16,9],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/07\/tax-deduct.png","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/is_landlord_insurance_tax_deductible_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/17490"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=17490"}],"version-history":[{"count":2,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/17490\/revisions"}],"predecessor-version":[{"id":17517,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/17490\/revisions\/17517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/17493"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=17490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=17490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=17490"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=17490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}