Foreign Income/UK Property 06 - Property Income allowance

Watch a short YouTube video on Your income from property tax return.

You can claim the property income allowance of up to £1,000.

If your total income from all of your UK and overseas property is over £1,000, include details of your overseas property income by either:

• claiming the property income allowance - if you claim the property income allowance, you cannot deduct any allowable expenses or claim any other allowances
• calculating your property profits by deducting allowable expenses and allowances - if you do this, you cannot claim the property income allowance

If you have more than one property business, the total amount of property income allowance claimed cannot exceed £1,000.

For more information on the property income allowance, go to Tax-free allowances on property and trading income.