Tax deductibility questions - RPData; presents to tenant.

[Whozat]

Hi.

Could anyone tell me if a subscription to RPData is tax deductible, and in what circumstances it would be?

Also, some time ago I believe that I read that presents to eg. tenants; PM; solicitor are tax deductible. Could anyone confirm that is the case and under what circumstances?

My accountant says that presents to tenants nor to my 'team' are not deductible.

Any thoughts? Thanks

Whozat

 

[softmonkey]

imho subscription would be deductible as its a research tool in the same way as investment magazines

presents to tenants - i had heard the same theory but my accountant completely ignored my presents expense and didn't include it. oh well, wasn't much anyway.

 

[kris]

If your running a business then as far as I know (within reason) a gift to a client or adviser is fine. (For gifts to employees you'd have to look at the FBT implication)

Rental properties however are regarded as a passive investment and hence the gifts aren't necessarily incurred in carrying on a business thus not deductible. Something like that anyway

 

[Whozat]

Thanks for that. The point about 'running a business' is probably the key issue.
I am going to try and claim the RP Data on the basis of it being a research tool and see how I go, though I am still wondering if anyone has actually put it to their accountant so far and been successful?
Ta
Whozat