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Residential property letting
| Tax on rental business profits: | ||
| Unincorporated | income tax rates - 20/40/50% | |
| Incorporated2 | corporation tax rates - 20/27.5/26% | |
| Tax on chargeable gain on disposal: | ||
| Unincorporated | 18% or 28% on excess over exempt amount | |
| Incorporated3 | corporation tax rates | |
| Maximum letting exemption relief1 | £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 claim is available until 2015 | ||
| Rent a room scheme income exemption | £4,250 | |
Notes
- Letting relief is available on let property which has been occupied as your main home
- Annual profits are not subject to national insurance
- The rate will be dependent on your taxable income for the year
Main taxes
- Key dates and deadlines
- Income tax
- Corporation tax
- Inheritance tax
- Capital gains tax
- Value added tax
- National insurance contributions
- Residential property letting
- Main capital allowances
- Business deductions
- Penalties for late returns
- Trusts and settlements
- Non domiciled individuals