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Property Income Manual
Publication Date:
2025
Publisher:
Bloomsbury Professional
Copyright:
2025 Crown
Property Income Manual
How rents from UK properties are taxed
Last update
: 28th February 2025
GO
Contents
Contents
Expand All
Collapse All
PIM0500: Abbreviations used
Close section
PIM1000: Introduction
PIM1001: Overview
PIM1003: Property Income: Income Tax
PIM1005: Property Income: Corporation Tax
PIM1010: Basis of assessment and time apportionment
PIM1015: Basis of assessment - special rules for end of tax year
PIM1020: What is a UK property business?
PIM1025: What is an overseas property business?
PIM1030: Jointly owned property & partnerships
PIM1040: Basis periods for partnerships
PIM1045: Life interest trusts
Close section
PIM1050: Income chargeable
PIM1051: Overview
PIM1052: Deposits or bonds taken from tenants
PIM1054: Disposal of waste on land
PIM1056: Rent-charges, ground annuals, feu duties
PIM1058: Local authority grants & other contributions
PIM1060: Furnished lettings
PIM1070: Sporting rights
PIM1075: Flat management companies
PIM1080: Commonhold
Close section
PIM1090: Cash basis for landlords
PIM1092: Overview
PIM1094: Receipts and expenses
PIM1095: Capital expenditure
PIM1096: Transitional adjustments on entering the cash basis
PIM1098: Transitional adjustments on leaving the cash basis
Close section
PIM1100: Use of trading income rules
PIM1101: Splitting receipts and expenses between years
PIM1102: Splitting receipts and expenses between years: examples
PIM1103: Similarities and differences to trading income rules
PIM1104: Application of trading income rules: Income Tax
PIM1106: Application of trading income rules: Corporation Tax
Close section
PIM1110: Wayleaves and other income
PIM1112: Overview
PIM1113: Other property income
PIM1114: Wayleaves & easements - IT
PIM1115: Wayleaves & easements - CT
PIM1117: Rent receivable in connection with mines, quarries and similar concerns
PIM1118: Rent receivable from UK electric-line wayleaves
Close section
PIM1200: Premiums
PIM1202: Definition of a premium
PIM1203: How are premiums taxed?
PIM1204: ‘Granting’ vs ‘assigning’ a lease
PIM1205: How the charge is calculated
PIM1206: Lease granted on or after 25 August 1971 - term of lease treated as shorter than stated
PIM1207: Lease granted on or after 25 August 1971 - term of lease treated as longer than stated
PIM1208: Lease granted between 12 June 1969 and 25 August 1971
PIM1209: Lease granted on or before 12 June 1969
Close section
PIM1210: Other sums treated like premiums
PIM1211: Overview
PIM1212: Lease requiring tenant to carry out work on premises
PIM1214: Sums payable in lieu of rent or for surrender of a lease
PIM1216: Sums received for variation or waiver of the terms of a lease
PIM1218: Payments to a person other than the landlord
PIM1220: Payable by instalments
PIM1222: Charge on assignment of lease granted at undervalue
PIM1224: Sale of property with right to buy back
PIM1226: Sale of property with right to lease back
PIM1228: Mineral bearing land: ‘Treasury arrangement’
PIM1230: Transfer of land
PIM1232: Seeking advice from the Valuation Office Agency
Close section
PIM1900: Deductions
PIM2000: General rules
PIM2020: Repairs
PIM2050: Interest
PIM2068: Main types of expense
PIM2230: Premiums paid
PIM2330: Apportionment on sale of a let property
PIM2340: Sale and leaseback of land
Close section
PIM2500: Beginning and end of a rental business
PIM2505: Commencement
PIM2510: Cessation
PIM3000: Post-cessation receipts and expenses
PIM3010: Capital allowances
Close section
PIM3200: Furnished lettings
PIM3205: Overview
PIM3210: Replacement of domestic items relief: 2016-17 onwards
PIM3215: Wear & tear allowance: 2011-12 to 2015-16
PIM3220: Wear & tear allowance: 2010-11 and earlier
PIM3230: Renewals basis: 2012-13 and earlier
Close section
PIM4000: Rent-a-room
PIM4001: Overview
PIM4002: Letting as office accommodation
PIM4004: Building divided into separate residences
PIM4010: Exemption limits
PIM4012: More than one source
PIM4015: Going abroad and/or occupying job related accommodation
PIM4020: Receipts below exemption limit
PIM4030: Receipts above exemption limit
PIM4040: Losses
PIM4050: Elections and time limits
Close section
PIM4100: Furnished holiday lettings
PIM4105: Overview
PIM4110: Qualifying tests (IT and CT)
PIM4112: Historic qualifying tests for IT
PIM4115: Calculating profits and losses
PIM4120: Treatment of FHL losses for 2010-11 onwards
PIM4130: Treatment of losses for 2010-11 and earlier
PIM4140: Special tax treatment of FHLs
PIM4150: Historic treatment of FHLs
Close section
PIM4200: Losses for Income Tax
PIM4205: Overview
PIM4210: Setting losses against future profits
PIM4220: Setting losses against general income
PIM4222: How relief is given against general income
PIM4224: Specific rules for agricultural expenses
PIM4228: Calculating restriction on sideways relief
Close section
PIM4230: Losses for Corporation Tax
PIM4235: Overview
PIM4236: Setting losses against future profits
PIM4238: Losses on cessation of business
PIM4240: Group relief
PIM4250: Restriction following a change in company ownership
PIM4300: Rents related to a trade or profession
Close section
PIM4400: Property allowance
PIM4410: Overview
PIM4420: Definitions
PIM4430: Computations
PIM4440: Elections
PIM4450: Exclusions from relief
PIM4470: Other considerations
Close section
PIM4480: Examples
PIM4481: Relievable receipts of a property business
PIM4482: When it can be beneficial for individuals to elect for full relief not to apply
PIM4483: Computation of partial relief for one relevant property business
PIM4484: Computation of partial relief for two relevant property businesses
PIM4485: The exclusion from the property allowance of income satisfying the conditions for rent-a-room receipts
PIM4486: Exclusion of the property allowance when relevant property income comes from a connected firm
PIM4487: When it's not beneficial to claim a ITTOIA 2005, s 274A deduction
PIM4488: Using the property allowance and income from an interest in possession trust
PIM4489: Exclusion of property allowance for income from a discretionary trust
Close section
PIM4700: Rent from property outside the UK
PIM4702: Income Tax (IT)
PIM4703: Corporation Tax (CT)
Close section
PIM4800: Overseas landlords
PIM4810: Summary of the non-resident landlord scheme
PIM4820: The Non-resident Landlords Scheme - letting agents
PIM4830: The Non-resident Landlords Scheme - tenants
PIM4840: The Non-resident Landlords Scheme - non-resident landlords
PIM4850: The Non-resident Landlords Scheme - usual place of abode
PIM4860: Application to receive UK rent gross
PIM4870: HMRC authorisation to receive rent gross
PIM4880: Appeals against HMRC refusal to authorise gross payment of rent
PIM4890: HMRC process and compliance
PIMFEEDBACK: Feedback
Close section
PIM7000: Archived guidance
pim7020: Trading income rules: application of trading income rules: IT to 2004-05 and CT to 2008-09
PIM7030: Trading income rules: application of trading income rules: rules that do not apply
PIM7040: Income excluded from UK property business: wayleaves & easements: IT cases up to 2004-05 and CT cases up to 2008-09
PIM7050: Deductions: interest: property used for mixed purpose 1999-2000 and earlier
PIM7060: Deductions: interest: mortgage interest 1999-2000 and earlier
PIM7070: Deductions: main types of expense: landlord's energy savings allowance
PIM7080: Deductions: main types of expense: foot and mouth disease
PIM7090: Capital allowances: industrial buildings allowance for lessors
PIM7100: Capital allowances: agricultural buildings allowance for lessors
PIM7200: Archived: Historic qualifying tests for IT
PIM7210: Qualifying tests for CT taxpayers up to 2010-11
PIM7250: Treatment of losses for 2010-11 and earlier
[18.97.9.171]
18.97.9.171