UK Property Income Flashcards
1
Q
On what basis is rental income from UK properties taxable on?
A
Rental income from UK properties is taxable on an accruals basis
2
Q
What is not an allowable expense under property income?
A
Interest payable on a loan to acquire or improve property is not an allowable expense against property income
3
Q
If interest payable on a loan to acquire or improve a property is not allowed as an expense against property income, where is it given relief under?
A
The loan relationship rules
