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UK property (SA800)

Use this section for entering income from UK property and income from UK and EEA Furnished Holiday Lets.

When entering property income you can choose to enter each property into a separate section, or you can place all properties of a particular type into the same section. Taxfiler will aggregate the results for the tax return form. This information populates SA801 form

Details

  • ‘Start of return period’ enter the start of the partnerships accounting period
  • ‘End of return period’ enter the end of the partnerships accounting period
  • ‘Is this a furnished holiday let?’ Tick if the property is a furnished holiday let. Further information is available in HMRC Helpsheet
  • ‘Is it in the EEA?’ Tick the box if the furnished holiday let is in the European Economic Area.
  • ‘How are income and expenses calculated?’ Make a selection from the drop down list, either ‘Accruals (traditional) basis‘ or ‘cash basis‘. Only partnerships that just have individuals as partners can use the cash basis. For further information read HMRC guide

Income

  • ‘Rents and other income from property’ Enter the total of all income arising to the partnership business from any land and property you’ve rented out in the UK, except income arising from holiday lettings, chargeable premiums and reverse premiums. Non-resident landlords must show income here before deduction of tax.
  • ‘Tax taken off (non-resident landlords)’ enter the amount non- resident landlord tax taken off income received by a landlord whose usual place of abode is outside the UK.
  • ‘Premiums for the grant of lease‘ enter the amount received in respect of grant of lease premiums
  • ‘Reverse premiums and inducements‘ enter the amount received in respect of reverse premium or inducements.

Expenses

Enter the values relating to the fields below, for further information refer to the HMRC guide

  • ‘Rent, rates, insurance, ground rents etc‘
  • ‘Repairs, maintenance and renewals’.
  • ‘Finance charges including interest’ enter the amount of finance costs paid during the year. From 2020/21 tax year interest paid is not an allowable expense against rental income received.  
  • ‘Legal and professional costs’
  • ‘Costs of services provided, including wages’
  • ‘Other allowable expenses’

Residential property finance costs

  • ‘Interest etc on residential properties’ enter the full amount of interest paid, Taxfiler will calculate the allowable amount.
  • ‘Allowable as an expense (75% of costs in 2018, 50% in 2019 and 25% in 2020)

Adjustments and allowances

  • ‘Net profit/(loss)‘ Taxfiler will show the net profit/ (loss) before adjustments
  • ‘Private use adjustment’ enter any amount disallowed for private use.
  • ‘Other balancing charges’ enter the amount for any balancing charges
  • Zero-emissions cars allowances’ – enter the amount for any allowances on purchase of vehicles with zero emissions. (added from 2022)
  • ‘Annual Investment Allowance’ enter the amount for any eligible AIA
  • ‘Structures and Buildings Allowance’ (added from 2022)
  • ‘Freeport Structures And Buildings Allowance’ – claims to this allowance apply from 1/11/2021 or from when the area was designated a Freeport Tax site.  (added from 2022)
  • ‘Electric Charge Point Allowance  (added from 2022)
  • ‘All other capital allowances‘ You cannot claim capital allowances if you’re using cash basis. The only exception is cars.
  • ‘Includes ‘environmentally friendly’ expenditure?’ (Applies to tax years prior to 2021/22) Tick the box if any enhanced capital expenditure includes environmentally beneficial plant and machinery.

Profits and losses

  • ‘Loss brought forward‘ Enter any unused losses brought forward from the previous year.
  • ‘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 to carry forward’ The losses to carry forward will be shown.