Management Fee

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Ian Cognito
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I fully manage a number of rental properties co-owned with my brother and sister. As the portfolio has grown, management now takes a significant proportion of my time and so I intend to charge a monthly fee (probably 10% of gross rental income). This cost would be divided equally among the 3 of us (and included in Property Expenses Box 25 within the UK Property Section of our tax returns, which I already complete). Are there any pitfalls that I/we should be aware of?
08/01/2014 16:46

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