My husband and I manage our own property portfolio, which is a full-time job and we don't use an agent. But if we use an agent they would charge a fee of between 6.5% and 15%. How can we charge the cost of our time against tax? We are a partnership as far as HMRC are concerned. 

Arthur Weller replies: 

If you look at HMRC’s Property Income manual you can see that it states: “A landlord can’t deduct anything for the time they spend themselves working in their own rental business”. Similarly, with regard to capital expenses, it states in HMRC’s Capital Gains manual: “the following do not qualify as enhancement expenditure... the value of an individual owner’s own labour on alterations and improvements to an asset - Oram v Johnson, 53TC319”.