Also get a free tax-deductible expenses checklist when you download a spreadsheet!
Download a Rental Income and Expense Spreadsheet Tracker
2020/21 version
Want a fast and effective way to manage your property income and expenses? If yes, then get this free spreadsheet that automatically calculates your profitability and cashflow.
Download the Spreadsheet
Download a Rental Income and Expense Tracker Spreadsheet with Dark Theme
2020/21 version
Some people prefer to work with darker apps and themes. These can also be useful if you are dyslexic. If you'd prefer to use a darker version of the spreadsheet you can download it here.
Download the Dark Spreadsheet
How to use the Landlord Income and Expense Spreadsheet
The income and expense spreadsheet has been built with ease of use in mind. Simply download and open your spreadsheet and you should be able to use it straight away.
The first tab of the spreadsheet contains instructions on how to access the income and expense sections of the tracker and a guide to the different sections of the spreadsheet.
The instructions in the income and expense spreadsheet
The second tab contains the tracker. Here you can enter the details of your income and expenditure. To make sure essential formulas don’t get deleted or overwritten by accident all the cells have been locked (apart from the ones you should enter details into).
The income and expense tracker
How to Access the Income and Expenses Spreadsheet
Using the income and expense spreadsheet is easy. The spreadsheet has been created in Excel and saved in .xls format so it is compatible with many older versions of windows. This format means the spreadsheet is also easy to open in Numbers for Mac, Google Sheets, Open Office and many other spreadsheet providers. Very few people have problems opening the spreadsheet, but if you do, please contact us and we will do whatever we can to help you.
Where to get More Information on Mortgage Relief and 20% Tax Credit (Section 24)
The aim of this income and expense spreadsheet is to give landlords a simple way to track income and expenditure and to help them prepare for their tax returns. Because this is a simple spreadsheet some of the more complicated tax rules around mortgage interest relief aren’t accounted for. As this spreadsheet is for the 2020 tax year onwards we have not included mortgage interest relief in any of the spreadsheet’s calculations.
20% tax credit in the income and expense spreadsheet
From 2017 you have been able to claim a 20% tax credit on mortgage relief, this only applies in the simplest of cases, it is down to you to check you are eligible for this relief before applying it when you submit your tax return. You can learn more about section 24 in this guide:
In this article you'll learn about the phasing out of mortgage interest relief, how it will affect you and how you can offset the costs.
Tips for Designing Your own Landlord Spreadsheet
Each landlord is different. While this simple spreadsheet helps most landlords when it comes to tax preparation, your needs might be slightly different and in that case, you’ll want to design your own spreadsheet. If you are creating your own landlord spreadsheet take a look at this article:
In this article you'll be introduced to 7 Excel tips that landlords can use to make professional looking spreadsheets.
The Limitations of the Landlord Income and Expense Spreadsheet
This income and expense spreadsheet is a great and simple tool to help landlords prepare for their tax return. For those who have one to three properties this spreadsheet should help you in a straightforward way.
If you have a large portfolio you may find it difficult to do all the admin needed to aggregate your costs into this spreadsheet. There are also more complicated tax considerations as your portfolio grows. If you’ve purchased or sold properties in the last tax year, you’ll find it difficult to account for this in the spreadsheet.
For a more comprehensive way of managing your income and expenditure and preparing your tax return try Landlord Vision. The software can handle an unlimited number of properties and tenancies and, will help you fill in your tax return in less than 5 minutes. Find out how landlord Vision can help make managing every aspect of your portfolio easy.
