If you let an entire property, you can deduct allowable expenses from your rental income before calculating tax. Common deductible expenses include: letting agent or management fees; cleaning and laundry costs; routine maintenance and repairs; insurance premiums; utilities paid by you as landlord; advertising and platform fees; and a proportion of mortgage interest (subject to current rules). You cannot deduct capital expenditure such as buying furniture or renovating in the same way as revenue expenses, though capital allowances may apply in some cases. You can also choose to claim the property income allowance instead of deducting actual expenses, if that gives a better result. Speak to an accountant to confirm which approach suits your situation.