The £1,000 property allowance was introduced from 6th April 2017 and may apply if your annual gross rental income is more than £1,000 as you may be able to deduct the allowance rather than actual expenses.
Unfortunately, the allowance is not available in the following situations:
- If the property income is from a company you or someone connected to you owns or controls
- If the property income is from a partnership where you or someone connected to you are partners
- If the property income is from your employer or the employer of your spouse of civil partner.
You will, therefore, not be able to claim the allowance in your situation as the company is owned/controlled by you.