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Chartered Certified Accountants
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Property allowance

  • A property allowance is available to individuals.
  • The property allowance will not apply to partnership income or to income on which rent a room relief is given.
Income up to £1,000 Property income assessable NIL
Income over £1,000 Election to deduct £1,000 rather than the actual expenses
  • From 6 April 2017 a property allowance of £1,000 per annum is introduced for individuals.
  • The property allowance will not apply to partnership income or to income on which rent a room relief is given.
Income up to £1,000 Profits assessable NIL
Income over £1,000 Election to deduct £1,000 rather than the actual expenses

 

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Testimonial

As long as we are in business, we shall continue to use Sence accounting.

Lucy Jackson
Lucy and Nicky Jackson

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