Landlord accounting
- Property profit before finance costs
- £10,570
- Total property income
- £13,800
- Allowable expenses
- £3,230
- Finance costs, claimed as basic-rate relief
- £6,000
Every figure on this page is computed from the inputs you enter, by the method stated below it. The only constants are the Income Tax rates and bands and the basic-rate restriction on finance-cost relief, taken from GOV.UK and dated on the page. RentRollDesk publishes no market yields and quotes no survey: the defaults are a worked example to replace with your own.
The figures above start from a worked example (£10,570). Change any input and the answer updates as you type.
Download the Landlord accounting worked example (CSV)
This totals a landlord's year the way the property pages of the return ask for it. Rent and any other property income first; then the allowable expenses by category, agent fees, repairs, insurance, service charge and ground rent, safety certificates, and the rest; the property profit before finance costs; and the finance costs on their own line, because they are relieved at the basic rate rather than deducted. The last figure is the cash left after every cost. Free, on the page, no account; the paid plan keeps the rent roll behind it and exports the year for your accountant.
Income is the rent that came in, plus the odd things that count
Rent received in the tax year, whether or not it was due in it, plus the deposit deductions you kept and any insurance payout for lost rent, is the income line. A tenant's arrears are not income until they are paid, which is why the rent roll behind this figure matters: the tool takes the total you enter, and the paid plan is what tells you the total.
Expenses in the return's categories, per property
Agent fees, repairs and maintenance, insurance, service charges and ground rent, safety certificates and licensing, and the accountancy, phone and travel that are wholly for the letting, are the allowable expenses, and the return wants them by category. The tool keeps them apart so the year-end export has the figures the accountant would otherwise re-key from receipts.
Finance costs on their own line, always
Mortgage interest and other finance costs on a residential let are not deducted from the profit; they earn a reduction at the basic rate on the return (GOV.UK). The tool shows the profit before finance costs, which is the figure the return taxes, and then the cash left after them, which is the figure the bank statement shows. Both are true, and confusing them is how a landlord under- or over-pays.
Landlord accounting: common questions
Is this a free landlord accounts template?
Yes. Enter the year's rent, other property income, the expenses by category and the finance costs, and it totals the income, the allowable expenses, the property profit before finance costs and the cash left, on the page with no account. Print it as it stands. RentRollDesk Pro keeps the rent roll behind it, your properties and tenancies, and the year-end export.
What counts as an allowable expense?
In general, the day-to-day costs of letting the property: agent fees, repairs that restore rather than improve, insurance, service charges and ground rent, safety certificates, and costs like accountancy or travel that are wholly for the letting. Improvements, the capital part of the mortgage and your own time are not. The tool totals what you enter; whether a borderline cost is allowable is a question for HMRC's guidance and your adviser.
Why is the mortgage interest not in the expenses?
Because since 6 April 2020 it is relieved at the basic rate as a reduction of the tax bill rather than deducted from the profit (GOV.UK), so the return asks for it on its own line and taxes the profit before it. The tool keeps it apart for that reason, and shows the cash left after it as a separate figure.
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Keeping what you make
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Cite or embed this figure
Landlord accounting (Property profit before finance costs): £10,570, RentRollDesk, worked example.
Cite as: "Landlord accounting, RentRollDesk", updated 2026-09-03, https://rentrolldesk.com/tools/landlord-accounting/.