Call us 01252 940 440

Contact Us

*COVID-19 update: Many of our shops and offices are now open for face to face meetings with strict social distancing measures in place. We also offer telephone and video consultations for all new clients in order to discuss your needs. Find the latest COVID-19 information available for your business.

Can I use the property allowance on rent I receive from my company?

I own/control a limited company that I charge rent to for a property that I own personally, can I use the property allowance against it on my self-assessment tax return?

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.

Contact us today to find out what other options you may have available to you. Please call us on 01252 940 440 or use our simple online contact form to arrange a free initial consultation.

Call us today to make an appointment with your local office

Consultations available by telephone or video

01252 940 440

Contact Us