You should enter in your cash flow forecast the cost of running any vehicles that you will use in your residential lettings venture. (Don't include the cost of the vehicle itself - include that under 'Capital expenditure'.)
Running costs include:
- the cost of fuel used in your residential lettings venture. For example you might regularly visit your properties to undertake maintenance or cleaning work or to collect rents
- servicing and repairs
- replacement tyres, exhausts and so on
- road tax
- tolls and congestion charges incurred by the business
Travel expenses include all the other expenses on travel incurred for the purpose of your lettings venture that is not made by car. These might include:
- public transport
- hotel expenses
For example you might travel by train to a training event and stay overnight.
Some of these costs, such as fuel, you will incur every month. Others, such as road tax, you can pay annually, every six months, or in monthly instalments (by direct debit). Enter your estimate of motor and travel expenses in the months when you expect to pay them.