What tax advantages do I have as the landlord of a historic property?
April 5, 2022 | 55,00 EUR | answered by Tina Ullmann
Dear Tax Consultant,
My name is Wanda Weise and I am recently the proud owner of a listed building. I acquired this property because I am fascinated by the historical architecture and charm of the building. However, I am now faced with the question of what tax benefits I can claim as the landlord of a listed building.
I have not yet delved deeply into the topic of property taxation and I am unsure if I am taking advantage of all opportunities to save taxes. I am concerned that I may overlook tax benefits and therefore end up paying unnecessarily high taxes.
Therefore, I would like to ask for your advice: What specific tax benefits do I have as the landlord of a listed building and how can I best utilize them? Are there any special tax regulations or depreciation options that I should consider?
I would be very grateful if you could help me better understand my tax situation and identify potential savings. Thank you in advance for your support.
Sincerely,
Wanda Weise
Dear Mrs. Weise,
Thank you for your inquiry regarding the tax benefits for landlords of listed buildings. As a proud owner of a listed property, you have chosen a special form of real estate that can offer not only historical charm but also tax advantages.
One of the key tax benefits for landlords of listed buildings is the possibility of monument depreciation. Listed buildings are structures that are under monument protection and are therefore particularly worth preserving. To promote the preservation of these buildings, landlords of listed properties can make an increased depreciation from the acquisition and production costs. This means that over a longer period, you can claim a higher portion of the costs for tax purposes compared to conventional properties. Monument depreciation is usually 8% per year over a period of 12 years.
Furthermore, as a landlord of a listed property, you can also benefit from other tax advantages. These include, for example, the possibility of claiming special deductions for certain renovation measures or energy-efficient upgrades. The ability to deduct maintenance expenses and advertising costs for renting out your listed property are also important aspects to consider in your tax return.
To fully utilize the tax benefits for landlords of listed properties, I recommend contacting an experienced tax advisor specializing in real estate taxation. A tax expert can help you identify all deductible costs and develop tax-optimized solutions for your listed property.
I hope that this information has been helpful to you, and I am available for any further questions. Thank you for your interest in property taxation, and best of luck with your future rental of your listed property.
Sincerely,
Tina Ullmann
Tax Advisor
