Property allowance

From tax year 2017-18 onwards, the property allowance is available to be claimed, either to fully relieve property income of up to £1,000 or as a deduction of £1,000 from the receipts of a property business as an alternative to an expenses claim.

If a property allowance claim is made, then no other expenses, deductions or reliefs may be claimed in respect of any property income for the year.

If Claim property allowance is selected, then any expenses and adjustments, other than balancing charges, entered on the Expenses / adjustments page will no longer be included in the calculation of the profit for the year.