Why download the rental income and expense tracker?
The spreadsheet is easy to use and flawless in its execution. This income and expense tracker makes tax preparation for landlords much easier by helping you to monitor and record the income and expenditure of your property business. The free spreadsheet automatically calculates your profitability and cashflow and works out your tax liability as you go along.
How to use the 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 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).
Using the income and expense spreadsheet for tax preparation
This spreadsheet is the prefect way for landlords to prepare for their tax returns. The rows on the left-hand side of the spreadsheet act as a great guide to allowable expenses.
These allowable expenses can be deducted from your overall tax liability if these items have been used for business purposes.
The sections covered under expenses include finance charges, rents, rates and ground rents, insurances, maintenance and repair costs, fixtures and fittings and furniture costs, wages and service costs, travel costs and a whole host of miscellaneous costs, including space to record any we haven't suggested.