commercial rents

21/05/2019 07:25:04
I make returns in respect of Commercial Property Investment Income.
No property registered has a rent of £85000 or more at this time although the portfolio rents exceed this sum,
This is not a business
Am I able to continue making the same returns that I have made to date

Re:commercial rents

22/05/2019 08:47:44

Thank you for your question.

I am assuming that the reference that you are making to the figure of £85000 is in respect of the completion of your tax return and the total amount of your property income.

I am also assuming that you are referring to making an entry at Box 29 on the UK property pages of a full paper tax return.

If this is the case then you will need to calculate the total amount of property income that you receive from all your properties together and not use the figure of £85000 for each property individually.

If the total property income figure is then over £85000 then you would not put a figure in Box 29.