PIM4426 - Property allowance: contents: definitions: relevant property income
An individual바카라 사이트™s 바카라 사이트˜relevant property income바카라 사이트™ is their total 바카라 사이트˜relievable receipts바카라 사이트™ for all of their 바카라 사이트˜relevant property businesses바카라 사이트™ for a tax year as defined by ITTOIA05/S783BC.
See example at PIM4481 for more information.
It should be noted that if any of an individual바카라 사이트™s relevant property income in a tax year is made up of receipts from:
- A connected employer (see PIM4452)
- A connected firm (see PIM4454)
- A connected close company (see PIM4456)
then the property allowance will not be available in that tax year.
For Example, if £1 of rent is received by an individual from a connected firm during the tax year, the individual is not eligible for any of the £1,000 relief for that year.
The property allowance will also not be available against the relevant property income of an individual with rent a room income who is not claiming rent a room relief (See PIM4458)