This section can be found within the Income from UK property data entry option. (Updated from 2022)
This tab represents a summary of all properties that are not furnished holiday lets (FHLs). This tab can be completed in one of two ways:
- Enter the total rents, expenses, and adjustments etc directly or
- Enter the details for each property from within the Properties tab. Taxfiler will total the information from each record and display this on the Land & property tab.
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:
- Land & property
HMRC provide help with the completion of the Income from UK property pages self-assessment-income-from-uk-property-sa105.
Income (except Rent-A-Room)
- Number of properties rented out – Enter in the number of properties that relate to this tab (so not including Rent-A-Room or FHLs).
- Rents – Enter the taxpayer’s share of income from the property or properties included. For non-resident landlords this should be the gross income before deduction of tax.
- Other income from property – Enter any Other income that may have been received from the properties. Follow the same rules as for Rents.
- Tax taken off (non-resident landlords) – Enter the taxpayer’s share of any tax taken off the income.
- Premiums for the grant of a lease – Enter the taxpayer’s share of the amount taxable to income for premiums. The premium chargeable is equal to Premium paid x (50 – years) ÷ 50, where years is the number of complete 12-month periods of the lease ignoring the first 12 months.
- Reverse premiums and inducements – Enter the taxpayer’s share of any reverse premiums and inducements.
Within this section enter in the expenses for the relevant corresponding sections below, for the properties in question.
Note: Expenses are not applicable If the only property entry within this tab is Rent-A-Room or claiming the property income allowance for just the one property.
- Rent, rates insurance, ground rents etc
- Repairs, maintenance and renewals
- Loan interest and other financial costs
- Legal, management and professional fees
- Costs of services provided, including wages
- Travel costs
- Other allowable expenses
Adjustments and allowances
Within this section enter in the adjustments and allowances for the relevant corresponding sections below, for the properties in question.
Note: If the only property entry within this tab is Rent-A-Room, then none of these adjustments and allowances apply. The only adjustment or allowance is under Rent-A-Room Scheme as the Exempt amount.
If the only property entry in this tab is claiming property income allowance, then only Balancing Charges is applicable.
- Private use adjustment
- Balancing charges
- Annual investment allowance
- Structures and Buildings allowance
- Freeport Structures and Buildings allowance
- Electric charge point allowance
- Zero-emission goods vehicle allowance
- Zero-emission car allowance
- All other Capital allowances
- Costs of replacing domestic items in residential lettings
An entry made in this section will add 1 to the number of properties shown on page of the SA105 UK property pages of the Tax return.
For more information on the Rent-A-Room scheme follow this link to the HMRC Helpsheet 223.
- Rents qualifying for rent-a-room scheme – Enter in this box the amount of income the taxpayer is receiving for Rent-A-Room properties.
- Exempt amount – Select from the drop-down menu the amount of relief the taxpayer is entitled to.
Calculate taxable profit or loss
- Adjusted profit/(loss) for the year – This field will show the calculated profit or loss for all properties before any brought forward losses.
- Loss brought forward – If this is the 1st year you are filing for this taxpayer, enter any unused losses brought forward from the previous year. Otherwise, the losses should be brought forward from the previous year when rolled forward.
- Loss brought forward used against profits – Taxfiler will allocate the maximum applicable loss to the profits for the year.
- Taxable profit for the year – Shows the taxable profit for the year, after taking into account losses brought forward.
- Loss set off against total income – Enter the amount of any agricultural expenses or capital allowance excess that is to be allocated against other income. From 2013–14 there is a further limit on the amount of Income Tax relief that an individual may claim for deduction from their total income in a tax year. See HMRC Helpsheet 204 for further information.
- Note: Only losses accrued in the tax year can be set off against total income. Losses brought forward cannot be used within this field.
- Loss to carry forward – This shows the remaining losses to be carried forward.
Residential property finance costs
Individuals will be able to claim a basic rate tax reduction from their Income Tax liability on the portion of finance costs not deducted in calculating the profit. In practice this tax reduction will be calculated as 20% of the lower of the:
- finance costs not deducted from income in the tax year (25% for 2017 to 2018, 50% for 2018 to 2019, 75% for 2019 to 2020 and 100% thereafter)
- profits of the property business in the tax year
- total income (excluding savings income and dividend income) that exceeds the personal allowance and blind person’s allowance in the tax year
Any excess finance costs may be carried forward to following years if the tax reduction has been limited to 20% of the profits of the property business in the tax year. If the property has made a loss, you will not receive a tax deduction. For additional information please see GOV.UK
Note: Residential property finance costs are no longer a deductible expense.
- Interest etc on residential properties – Enter the full value of interest paid on the property/properties, Taxfiler will calculate the portion that makes up the allowable expense and display it in the Tax Calculation and Tax Return.
- Unused residential finance costs b/fwd – If this is the 1st year you are filing for this taxpayer, enter any unused residential finance costs brought forward from the previous year. Otherwise, the unused residential finance costs should be brought forward from the previous year when rolled forward.