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Home > > 2008/09 Rates and Allowances > Residential Property Letting

Residential Property Letting

Tax on rental business profits:
Unincorporated income tax rates - 20/40%
Incorporated corporation tax rates - 21/29.75/28%
Tax on chargeable gain on disposal:
Unincorporated 18% on excess over exempt amount
Incorporated corporation tax rates
Maximum letting exemption relief 1 £40,000
Landlord's energy saving allowance:
Maximum claim for income tax payers £1,500
Maximum claim for corporate landlords £1,500
Basis claimable Claim per property
The availability of this claim is to be extended to 2015
UK Furnished holiday lettings (FHL):
Must be available for commercial letting for at least 140 days p.a.
Be let for at least 70 days p.a.
Not be let continuously in a seven month period for more than 31 days
Please contact us to discuss the advantages and disadvantages of FHL
Rent a room scheme income exemption £4,250

Notes

  1. Letting relief is available on let property which has been occupied as your main home.
  2. Annual profits are not subject to national insurance.