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Properties

This section can be found within the Income from UK property data entry option.  

Use this area to create and record information relating to individual properties the taxpayer owns and receives income from for a tax year.   

If this is not the 1st year that you are working on this client within Taxfiler, and they have properties that were not ceased in the previous year. These will be rolled forward into this section.   

If a property is jointly let, just enter the taxpayer’s share from that property rather than the full amount. 

For Help on the other areas within Income from UK property click on the links below:  

HMRC provide help with the completion of the Income from UK property pages self-assessment-income-from-uk-property-sa105. 

Add property accounts… 

To add a new individual property record to the grid, click on the + Add… button. 

  • Type – Select from the drop-down menu the type of property the entry relates to. 
  • Description – Enter in a description for the property.  
  • Accounting period start date – Enter the start of the accounting period for the individual property or accept the default tax year basis. 
  • Accounting period end date – Enter the end of the accounting period for the individual property. 

Note: Taxfiler will apportion the values entered for the property based on the accounting period start and end dates if this is not on a tax year basis.  

  • Number of properties – Enter in the number of properties this entry relates to. 
  • Address (optional) – Click on ‘Change address’ to enter in the address for the property entry.  

Once the relevant information has been entered, click on Create.  The Income & expenses tab will appear.  

Income & expenses 

  • Income  
  • Description – Within this grid click on the box under Description and enter in the desired description.  
  • Type – Select from the drop-down menu between the options provided: 
  • Rental income 
  • Other property income 
  • Amount – Enter in the amount of income relevant to the option selected. 
  • Expenses 
  • Description – Within this grid click on the box under Description and enter in the desired description.  
  • Type – Select from the drop-down menu between the options provided: 
  • Rent, rates insurance, ground rents etc 
  • Repairs, maintenance 
  • Cost of replacing domestic items 
  • Non-residential property finance 
  • Finance costs on residential lettings – Residential property finance costs are no longer a deductible expense. Any entry under this category is shown  in Residential property finance costs section on the Land & property (summary tab.  
  • Legal, management and professional fees  
  • Car, van and travel costs 
  • Costs of services provided, including wages 
  • Other allowable expenses   
  • Amount – Enter in the amount of income relevant to the option selected. 
  • Disallowable – If any amount of the expense entry is disallowable. Enter the amount within this box. 

To enter more than 1 entry. Simply click in the blank row beneath the last entry and repeat the process.  

Note: If an individual property record is created then any information previously manually entered on the Summary tab for that given property type are not retained and is overwritten. The corresponding fields in the summary tab for income and expenses become non-editable as the values are derived from the individual property records. 

Details 

This tab shows the exact same information that you entered for the property when creating it. However, now it is created there is one extra field: 

  • Date properties disposed – Enter in here the date this individual property entry was disposed of. This will stop the property from being rolled forward into the following tax year.  

After completing the Income & expenses and Details tabs, click Save changes. The individual property entry will then appear in the grid.  

Deleting a property record 

To delete the individual property entry open the record by clicking on the record in the grid (all column information is a hyperlink). Click on Delete and then Confirm deletion.