Property income allowance

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    Property income allowance

    I have two properties, one rented to a private tenant and another industrial property I rent to a company I own.

    I note in:
    https://www.gov.uk/guidance/tax-free...trading-income

    It says:
    You cannot use the allowances in a tax year, if you have any trade or property income from:
    • a company you or someone connected to you owns or controls
    It feels a little unfortunate!

    Is this a blanket rule that scuppers this allowance?

    #2
    Are you getting annual income of less than £1000 from each of your properties ?

    Comment


      #3
      I get more than £1,000 from each property.

      Comment


        #4
        Originally posted by Mikexx View Post
        I get more than £1,000 from each property.
        So these allowances are not available to you anyway.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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