Expense Categories

Expense Categories

Latch provides a set of built-in expense categories that align with common tax-deductible items for landlords.

Built-in Categories

• Repairs & Maintenance — Fixing or maintaining the property (plumbing, electrical, decorating).
• Insurance — Buildings, contents, and landlord insurance premiums.
• Utilities — Gas, electricity, water, and council tax (if landlord-paid).
• Management Fees — Letting agent or property management fees.
• Legal & Professional — Solicitor fees, accountancy, and compliance costs.
• Mortgage Interest — Interest portion of mortgage payments (tax-deductible).
• Furnishings — Furniture, appliances, and fittings.
• Travel — Mileage and travel costs for property visits.
• Advertising — Listing fees and marketing costs.
• Ground Rent & Service Charges — Leasehold property costs.
• Other — Anything that does not fit the above.

Creating Custom Categories

1. Go to Settings > Expense Categories.
2. Click Add Category.
3. Enter a name and optionally a description.
4. Click Save.

Custom categories appear alongside the built-in ones when recording expenses.

Tax Implications

Each category maps to a line on your tax return. The Expense Reports feature groups expenses by category so your accountant can easily see what is deductible.

Tip: Use the built-in categories wherever possible — they are designed to match HMRC's allowable expense headings for rental income.