No.
But also yes.
The tax return basically lumps everything in to relative few boxes with whole loads of things combined in to boxes together. Box 24 on the property page for instance is the total of “Rent, rates, insurances and ground rents”. That covers a lot and HMRC only need to have a single figure. Same goes with the others.
Why then do you spend so much time splitting all of your costs down to send to me to do your tax return?
Well to put it simply if everything is lumped together you may as well do your own tax return! Part of the benefit of using a tax advisor is that you want someone to look over your expenses and do two key things.
Missing?
First of all is anything missing? Did you remember to put your CP12 cost in? What about the management charge taken by your agent before you get the rent dropped in to your bank?
Too much?
How will I spot that you have included your TV licence if you don’t split out what you send? I know Homes Under The Hammer was your inspiration but it really isn’t al allowable expense.
Summary
I know the return shows the simple tally on the face but the schedules that go in with the return generally have the breakdown. This is important as although the IT does not look at it by default if your return is selected for review having a nice summary on show could make the difference between your return getting thrown back in the pile or HMRC having to ask for clarification.
Once they write a letter they tend to do some lumping of their own and as you’ll find out very rarely do they simply ask for one thing. Give them an inch…