UK property

The UK Property page becomes active if UK property business is selected at Business Activities. The page has three tabs:

Details

Commencement date This is populated from the information entered at Business Activities. The date can be amended here, and any such amendment will adjust the commencement date at Business Activities.
Cessation date This is populated from information entered at Business Activities. The date can be amended here, and any such amendment will adjust the cessation date for the property business at Business activities.
Non-UK resident company landlord

This is only shown if the period of account starts on or after 6 April 2020. Select if the company is non-UK resident and chargeable to UK corporation tax under CTA 2009 s 5(3A) or 5(3B). If selected, other boxes and pages become available.

Note:

See the note under To add a company at View all companies for setting up a company as a non-UK resident company landlord.
Profit (loss) on ordinary activities before taxation This figure is that amount of the company’s profit or loss allocated to UK property business at Profit and loss. It can only be amended from Profit and loss.
Prior year adjustment allowable Use this box to enter any adjustment to the current period's figure required as a consequence of an adjustment for an earlier period.
Adjustments from P&L This figure shows the Profit and loss adjustments allocated to the UK property activity. Click on the figure to open the calculation of the amount. You can only amend this figure by adjusting the allocation on Profit and Loss.
Other adjustments Enter here any adjustments not included at Profit and loss. Click on the figure to open Other adjustment detail and click Add to enter the description and amount of any required adjustment.
Adjusted profit/(loss) This is the Profit/(loss) on ordinary activities before taxation figure, adjusted for any Prior year adjustment allowable, Adjustments from P&L, and Other adjustments.
Add/deduct period specific adjustments Click the figure for an analysis of any period-specific adjustments.
Adjusted profit/(loss) before capital allowances Shows the adjusted profit or loss after any period-specific adjustments.
Net (capital allowances)/charge Shows the total figure from Capital Allowances.
Adjusted profit/(loss) before income tax losses b/f This is only shown if Non-UK resident company landlord is selected. Shows the profit or loss after adjustment for Net (capital allowances)/charge but before Income tax losses b/f and relieved.
Income tax losses b/f and relieved This is only shown if Non-UK resident company landlord is selected. Shows the income tax losses brought forward entered in Relieved in this period: UK property business on the Income Tax Losses B/F tab on the Losses tab.
Adjusted profit Shows the adjusted profit after taking into account any Income tax losses b/f and relieved.
Adjusted loss Shows the adjusted loss.
Income tax suffered This is only shown if Non-UK resident company landlord is selected. Enter the amount of Income tax deducted, if any, from rental receipts.

Summarises the capital allowances claims in respect of those assets identified on Fixed asset register as relating to the UK property business.

With the exception of claims in respect of certain cars, no figures are entered on this tab. You should instead make all capital allowance claims from the Fixed asset register. Select the relevant linked amount on the Capital allowances tab to go to that capital allowances page where you can amend AIA claims or disclaim WDAs and/or FYAs. Any capital allowances details entered in the Fixed asset register which relate to the UK property business and changes made in each capital allowances page will be reflected in the Capital allowances tab.

Losses this period

Use this tab to identify any UK property losses which have been:

  • foregone
  • relieved in this period
  • surrendered as group relief.

Note: To enter losses in Group relief surrendered, there must be at least one associated company (or one 51% group company during periods between 1 April 2015 and 31 March 2023) excluding this company entered at Return information.

Losses b/f

Use this tab to identify any UK property losses:

  • brought forward
  • foregone or no longer available

  • relieved in this period

  • surrendered as group relief

  • extinguished on cessation

You must also analyse the Subtotal at Losses brought forward and Total Loss c/f at Losses carried forward between those arising before 1 April 2017 and those arising after 31 March 2017.

Note:

To enter losses in Group relief surrendered, there must be at least one associated company (or one 51% group company during periods between 1 April 2015 and 31 March 2023) excluding this company entered at Return information.

Income tax losses b/f

This tab will only be active if the company's first period of account begins on 6 April 2020 and Commencement date on the Details tab is 6 April 2020.

Note:

A non-UK resident company landlord starting business after 5 April 2020 (so it was never within the UK income tax regime) will never have any unrelieved income tax losses.

Use this tab to identify any UK property income tax losses:

  • brought forward
  • foregone or no longer available
  • relieved in this period against the UK property business adjusted profit after net capital allowances
  • relieved in this period against net non-trading credits on loan relationships that are referable to the UK property business
  • extinguished on cessation