A landlord expenses spreadsheet only needs a few columns, but the categories matter: they decide what you can take off your rental income when you fill in your tax return. This guide covers what to record for a UK let, based on HMRC’s guidance.
The short answer
- Record every cost with the date, property, category, supplier, amount and where the receipt is.
- Keep repairs separate from improvements: repairs are usually allowable, improvements usually are not.
- Mortgage interest is not taken off your rent like other costs; for residential lets you get a tax reduction at the basic rate instead, so record it in its own column.
The columns you need
| Column | Why |
|---|---|
| Date | Puts the cost in the right tax year (6 April to 5 April). |
| Property | Needed if you let more than one property. |
| Category | Lets you total each type of cost for the tax return. |
| Supplier and description | Shows what the cost was for if HMRC asks. |
| Amount | What you paid, including VAT if you are not VAT registered. |
| Receipt | A file name, folder or link so you can find the proof. |
| Repair or improvement | Keeps capital costs out of your expenses total. |
Expenses HMRC lists as allowable
HMRC says you can deduct costs that are wholly and exclusively for renting out the property, such as:
- general maintenance and repairs
- water rates, council tax, gas and electricity, if you pay them
- landlord insurance (buildings, contents, public liability)
- services such as gardeners and cleaners
- letting agent and management fees
- accountant’s fees
- ground rent and service charges
- direct costs such as phone calls, stationery and adverts for new tenants
- the business share of vehicle running costs
Costs that need their own column
Mortgage interest
For residential lets owned by individuals, mortgage interest and other finance costs are not deducted from rent. You get a tax reduction limited to the basic rate of Income Tax instead. Only the interest counts, never the capital part of the repayment, so record the interest figure from your lender’s statement.
Replacing furniture and appliances
Replacement of domestic items relief covers replacing things like beds, carpets, curtains, fridges and crockery in a residential let. Buying them for the first time does not qualify, so note whether each item is a replacement.
Improvements
Improvements such as an extension or a new conservatory are capital costs and cannot be deducted from rental income. Keep them in the sheet anyway: they can matter when you sell.
Track income and safety dates in the same file
Most landlords keep rent in the same workbook: rent due, rent received and the difference, so arrears show up straight away. It also helps to keep key dates in one place. In England these include the yearly gas safety check, the electrical safety report at least every five years, the EPC, and protecting a deposit within 30 days. Rules differ in Scotland and Wales.
How long to keep records
HMRC asks you to keep records of rent and expenses for at least five years after the 31 January tax return deadline for that tax year. Making Tax Digital for Income Tax is being brought in for landlords and sole traders in stages from April 2026, starting with higher incomes, so check whether it applies to you.
A ready-made option
The UK Landlord Tracker spreadsheet has these columns, totals by tax year, an arrears view and a safety-dates tab for Excel and Google Sheets. You can also build your own from the columns above.
Official sources
Checked against GOV.UK on 13 November 2026. Tax rules change; this is general information, not tax advice. Ask an accountant about your own situation.
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