Updates: Property Income Manual
2024
replace "rental business" with "property business"
Beginning and end of a property business: contents
replace "rental business" with "property business" in title
Beginning and end of a rental business: commencement
replace "rental business" with "property business"
Beginning and end of a property business: cessation
replace "rental business" with "property business"
Beginning and end of a property business: post-cessation receipts and expenses
replace "rental business" with "property business"
Rents related to a trade or profession
replace "rental business" with "property business"
Rent from property outside the UK: Income Tax (IT)
replace "rental business" with "property business"
The Non-resident Landlords Scheme - letting agents
replace "rental business" with "property business"
Deductions: main types of expense: bad and doubtful debts
replace "rental business" with "property business"
Deductions: main types of expense: cost of providing services
Replace "rental business" with "property business", except first sentence of last section, where now uses non-technical term "letting activity". Replace "the tax office" with "HMRC".
Deductions: main types of expense: costs due to common ownership
replace "rental business" with "property business"
Deductions: main types of expense: entertaining expenses and gifts
replace "rental business" with "property business"
Deductions: main types of expense: expenses for own home
replace "rental business" with "property business"
Deductions: main types of expense: fees for loan finance and similar items
replace "rental business" with "property business"
Deductions: main types of expense: fines
replace "rental business" with "property business"
Deductions: main types of expense: insurance premiums and recoveries
replace "rental business" with "property business"
Deductions: main types of expense: legal and professional costs
replace "rental business" with "property business"
Deductions: main types of expense: properties not let at a commercial rent
replace "rental business" with "property business". Clarify wording re condition C of replacement of domestic items relief.
Deductions: main types of expense: rent collection
replace "rental business" with "property business"
Deductions: main types of expense: rent paid out
replace "rental business" with "property business"
Deductions: main types of expense: salaries and wages of employees
replace "rental business" with "property business"
Deductions: main types of expense: sea walls
replace "rental business" with "property business"
Deductions: main types of expense: travelling expenses
replace "rental business" with "property business"
replacements of "rental business" with "property business"
Replace "rental business" with "property business"
Deductions: repairs: is it capital?
replace "rental business" with "property business"
Deductions: repairs: other rules
replace "rental business" with "property business"
Deductions: interest: overview
replace "rental business" with "property business"
Deductions: interest: restriction for income tax purposes from 2017/18: apportionment
replace "rental business" with "property" business
Deductions: interest: interest paid abroad
replace "rental business" with "property business"
Replace 'rental business' with property business. Improve sentence comparing calculation of property profits to trade profits.
Income chargeable: deposits or bonds taken from tenants
Replace 'rental business' with 'property business'.
Income chargeable: local authority grants & other contributions
replace 'rental business' with 'property business'.
Income chargeable: furnished lettings
replace 'rental business' with 'property business'.
Income chargeable: sporting rights
replace 'rental business' with 'property business'.
Use of trading income rules: splitting receipts and expenses between years
Replace "rental business" with "property business. Minor editing of pre-2017 cash basis to reflect passage of time.
Use of trading income rules: application of trading income rules: IT
replace "rental business" with "property business"
Use of trading income rules: splitting receipts and expenses between years: examples
Sentence "References to 'receipts' throughout this manual assume that the ‘earnings basis’ treatment outlined above is applied." removed - references to receipts could be GAAP and/ or cash basis, depending on context. Changed years in examples.
Use of trading income rules: similarities and differences to trading income rules
Replace "rental business" with "property business". Move the ref to wholly and exclusively to a more logical place. Remove commentary on historic ICTA provisions.
"rental business" replaced by "property business"
Introduction: basis of assessment and time apportionment
"rental business" replaced by "property business"
Introduction: basis periods for partnerships
replace "rental business" with "property business"
Overseas landlords - summary of the non-resident landlord scheme
replace "rental business" with "property business"
The Non-resident Landlords Scheme - letting agents
replace "rental business" with "property business"
Updated to remove abbreviations no longer used in the PIM or always spelled out.
Introduction: life interest trusts
Replacing 'rental business' with 'property business'. Also minor formatting changes.
Introduction: what is a UK property business?
1st sentence reduced, "activity for generating income from land" covers both (a) and (b) of s264 and s205. The words cut caused confusion, some readers thought it included income not generated from land. Also property, not 'rental', business.
Use of trading income rules: application of trading income rules: CT
Replaced page with updated tables and links to current guidance
General refresh including mentioning FHL change, omitting old refs to ICTA legislation and adding link to PIM4300
Premiums: Definition of a premium
Removed anachronistic reference to cases to be worked by an inspector.
Deductions: main types of expense: cost of providing services
Guidance on treatment of renewable heat incentives and feed in tariffs
Rents related to a trade or profession
Insert guidance re renewable heat incentives and feed in tariffs
guidance re renewable heat incentives and feed in tariffs
Add new PIM1015 to menu
Introduction: basis of assessment and time apportionment
Updates to reflect impact of basis period reform and other stylistic improvements.
New content on impact of basis period reform, plus minor stylistic improvements.
Introduction: Property Income: Income Tax
Update to reflect impact of basis period reform plus other stylistic improvements
Introduction: basis periods for partnerships
Updates including impact of basis period reform.
Reflecting impact of basis period reform
Archiving page as other feedback route available which is monitored by HMRC guidance team
2023
Revision of menu to include pages in the rewritten PIM4800 series, bringing together guidance previously in PIM and INTM.
Overseas landlords - summary of the non-resident landlord scheme
Replacement of page as part of major rewrite of PIM4800 series bringing together previous guidance in PIM and INTM.
The Non-resident Landlords Scheme - letting agents
Replacing existing page as part of a major rewrite bringing together guidance previously in PIM and INTM. See whole PIM4800 series.
The Non-resident Landlords Scheme - tenants
Published Process Changes
The Non-resident Landlords Scheme - non-resident landlords
Published process changes
The Non-resident Landlords Scheme - usual place of abode
Published process changes
Other sums treated like premiums: Transfer of land
Link to INTM600020 - this page has now been archived and new link provided to intm600000 as the guidance has been updated.
2022
Other sums treated like premiums: Transfer of land
Removal of guidance on s746 ICTA, as that was repealed wef 2007. Inserted new cross-ref to INTM to transfer of assets abroad guidance.
Deductions: interest: interest paid abroad
Add ref to s874(2). Cross refs to SAIM. Updated ref/link to LB DTA team. Amended uncommercial interest section to refer explicitly to W&E and link back to the PIM pages on W&E.
Property Income Manual: update index
Page archived – Old legacy update page no longer required.
Property Income Manual: recent changes
Page archived – Old legacy update page no longer required.
Property Income Manual: recent changes
Page archived – Old legacy update page no longer required.
Property Income Manual: recent changes
Page archived – Old legacy update page no longer required.
Property Income Manual: recent changes
Page archived – Old legacy update page no longer required.
Property Income Manual: recent changes
Page archived – Old legacy update page no longer required.
Property Income Manual: recent changes
Page archived – Old legacy update page no longer required.
Property Income Manual: recent changes
Page archived – Old legacy update page no longer required.
Property Income Manual: changes 26 September 2014
Page archived – Old legacy update page no longer required.
Property Income Manual: recent changes
Page archived – Old legacy update page no longer required.
2020
Rent from property outside the UK: contents
Link to page PIM4705 archived
Rent from property outside the UK: Income Tax (IT)
Update to reflect changes to remittance basis and other editing
Rent from property outside the UK: Corporation Tax (CT)
Review and update
Rent from property outside the UK: IT cases up to 2004-05
Page archived
Introduction: what is a UK property business?
Update and re-org of material
Beginning and end of a rental business: contents
Links to PIM3005 archived
Beginning and end of a rental business: post-cessation receipts and expenses
Reorganisation of material for clarity, revised headings and added missing link
Page archived
Page numbers PIM3020 to 3050 archived
Amalgamating pages PIM3010 to 3050 incl to this page, archiving the other four. This change imports the new text.
Page archived
Archiving reason text added
Capital allowances: qualifying plant and machinery
Page archived
Capital allowances: furnished holiday lettings
Page archived
Capital allowances: calculation
Page archived
Introduction: basis of assessment and time apportionment
Add para on NR Co landlords & loser ref to 1995/96.
Introduction: basis of assessment and time apportionment
Reordering and updating to present the content better.
Furnished holiday lettings: treatment of losses for 2010-11 and earlier
Page archived
Inclusion of PIM7210
Archived: Furnished Holiday Lettings: treatment of losses for 2010-11 and earlier
sent for review
Furnished holiday lettings: contents
Links to archived pages removed
Furnished holiday lettings: historic qualifying tests for IT
Page archived
Furnished holiday lettings: qualifying tests for CT taxpayers up to 2010-11
Amended the wording for archive reason
Addition of FHL archived guidance
Addition of archived FHL guidance
Other sums treated like premiums: sums payable in lieu of rent or for surrender of a lease
Update and rewrite to include the legislative formula.
Other sums treated like premiums: sums received for variation or waiver of the terms of a lease
Update, include legislative formula and update calculations to use formula.
Deductions: premiums paid: multiple taxpayers
Rewrite to remove references to archaic compliance process, clarify application of law and generally improve drafting and presentation.
Property allowance: contents: definitions: relievable receipts
Changed formatting for readability ease
Deductions: apportionment on sale of a let property
Clarify wording to reflect law
Furnished lettings: Renewals basis: 2012-13 and earlier
fix to hashtags
remove flow chart (PIM4060)
Rent-a-room: going abroad and/or occupying job related accommodation
diversity, formatting harmonisation, date updates, remove ref to Sch A
Furnished holiday lettings: historic qualifying tests for IT
added links and minor formatting
This page had unaccountably been lost from this menu and therefore the manual. I am reattaching it.
2019
Deductions: main types of expense: legal and professional costs
Removed hashes that were appearing on gov.uk
2018
Use of trading income rules: splitting receipts and expenses between years
added cash basis section
Premiums: how the charge is calculated
change to formulaic approach plus update dates
Other sums treated like premiums: lease requiring tenant to carry out work on premises
update refs, names more ethnically diverse. remove ref to district
Other sums treated like premiums: sale of property with right to buy back
update refs. change to formulaic approach
Other sums treated like premiums: sale of property with right to lease back
added example, updated refs,
Other sums treated like premiums: seeking advice from the Valuation Office Agency
add links to bai and voa. change wording slightly
Deductions: interest: restriction for income tax purposes from 2017/18: introduction
New pages for restriction of interest for IT
Deductions: main types of expense: bad and doubtful debts
Moved + updated to reflect new legislation/terminology
Deductions: main types of expense: costs due to common ownership
moved page and updated link
Deductions: main types of expense: fees for loan finance and similar items
moved, updates legislation and links
Deductions: main types of expense: insurance premiums and recoveries
Moved + updated to reflect new legislation/terminology
Deductions: main types of expense: rates and council tax
moved and linked to bim
Deductions: main types of expense: rent collection
moved and updated link
Deductions: main types of expense: rent paid out
moved and reordered, updated links
Deductions: premiums paid: deemed premium for surrender of a lease
Moved premiums paid sub-section and updated
Deductions: premiums paid: multiple taxpayers
formatting, links
Moved premiums paid sub-section but not yet updated
Rent-a-room: receipts above exemption limit
attempt fix to
Property allowance: contents: computations: partial relief (one property business - UK or overseas)
formatting
Additional pages added
significant updates and split into two pages
added pages
Deductions: main types of expense: legal and professional costs
issues on gov.uk - attempt fix by republishing
Publishing new contents
added new pages
Income chargeable: deposits or bonds taken from tenants
Finalising reviews
Deductions: premiums paid: overview
moved premiums section. updated links, leg refs
Deductions: premiums paid: payer sublets without receiving a premium
Moved premiums paid sub-section and updated
Deductions: premiums paid: payer sublets and receives a premium
Moved premiums paid sub-section and updated
Deductions: premiums paid: premises used for rental business
Moved premiums paid sub-section and updated
Deductions: premiums paid: interaction with capital allowances
Moved premiums paid sub-section nad updated
Deductions: interest: contents
updated interest contents
updated contents to reflect new structure
Deductions: general rules: contents
updated contents to reflect new structure
Created repairs contents
Deductions: interest: contents
New contents for interest sub-section
Deductions: interest: overview
Updated legislation and wording
Deductions: interest: restriction for income tax purposes from 2017/18: apportionment
New pages for restriction of interest for IT
Deductions: interest: restriction for income tax purposes from 2017/18: calculation
New pages for restriction of interest for IT
updated to reflect new legislation
Deductions: interest: interest paid abroad
updated to reflect new legislation/terminology
Deductions: interest: swaps held by IT payers
moved, not yet updated
Deductions: main types of expense: contents
new contents for main types of expense
Deductions: main types of expense: advertising expenses
moved pages
Deductions: main types of expense: cash back on loans
Moved
Deductions: main types of expense: cost of providing services
Moved + updated to reflect new legislation/terminology
Deductions: main types of expense: criminal payments, bribes and similar items
moved and updated legislation
Deductions: main types of expense: entertaining expenses and gifts
Moved + updated to reflect new legislation/terminology
Deductions: main types of expense: expenses for own home
Moved + updated to reflect new legislation/terminology
Deductions: main types of expense: fines
moved page and updated terminology
Deductions: main types of expense: legal and professional costs
Moved + updated to reflect new legislation/terminology
Deductions: main types of expense: properties not let at a commercial rent
Moved + updated to reflect new legislation/terminology
Deductions: main types of expense: salaries and wages of employees
moved and updated legislation
Deductions: main types of expense: travelling expenses
Moved + updated to reflect new legislation/terminology
New section for fixed rate mileage allowance
Deductions: premiums paid: contents
Moved premiums paid sub-section but not yet updated
Deductions: apportionment on sale of a let property
moved, removed 2 additional pages and condensed into single page to reflect new, simpler legislation (discussed via email)
Deductions: sale and leaseback of land
moved and updated legislation
Beginning and end of a rental business: cessation
Updated legislation and terminology
Details re post cessation receipts/expenses and legislative references split into separate page
Furnished holiday lettings: contents
add PIM4140 and PIM4150
Furnished holiday lettings: calculating profits and losses
Correct typos
Furnished holiday lettings: treatment of FHL losses for 2011-12 onwards
Add legislation reference
Losses for CT: setting losses against future profits
added update for 2017 rule change
Deductions: general rules: applying the wholly & exclusively rule
updated (including legislation)
split into multiple repairs pages
Deductions: repairs: is it capital?
updated + split repairs section
Deductions: repairs: other rules
broke up, improved and updated repairs section
Beginning and end of a rental business: contents
- split information into more pages
Moving contents page
Beginning and end of a rental business: post-cessation receipts and expenses
changed from contents to page on post cessation for section above
new page for legislative references for post cessation receipts and expenses
Rent-a-room: receipts above exemption limit
rejig of structure of page. formatting harmonisation
Furnished holiday lettings: overview
change to overview. total revamp
Furnished holiday lettings: qualifying tests for 2011-12 onwards (IT and CT)
revamp. now harmonised rules(cases). use manual rather than helpsheets
Furnished holiday lettings: historic qualifying tests for IT
change to historic IT cases - total revamp
Furnished holiday lettings: qualifying tests for CT taxpayers up to 2010-11
revamp - historic qualifying tests for CT
Furnished holiday lettings: calculating profits and losses
total revamp - calc of profits/losses
Furnished holiday lettings: treatment of FHL losses for 2011-12 onwards
change to current losses page
add 1203 - taxation of premiums
Premiums: 'Granting' vs 'assigning' a lease
change of name
Premiums: lease granted on or before 12 June 1969
update refs and formatting. add bai submission
change to overview page
Furnished lettings: Replacement of domestic items relief: 2016-17 onwards
change from wear and tear allowance to current relief for replacement of domestic items
Furnished lettings: wear & tear allowance: 2011-12 to 2015-16
change to wear and tear allowance from 2011/12-2015/16
Furnished lettings: wear & tear allowance: 2010-11 and earlier
change to ESC B47 -wear and tear
Furnished lettings: Renewals basis: 2012-13 and earlier
make old renewals basis
Premiums: Definition of a premium
purely defining a premium and distinguishing from rent. no longer about taxation of premiums
Other sums treated like premiums: Overview
update refs and formatting. use formula for example
Creating contents page
Capital allowances: qualifying plant and machinery
Removed ABA and IBA pages
Updated page on qualifying plant and machinery
Capital allowances: furnished holiday lettings
Replaced hotels page with FHL page
Losses for Income Tax: contents
Additional pages added to break up information further
Updated, removed duplication
Losses for Corporation Tax: contents
Updating contents page to reflect new sections
To be contents page for CT losses section
2017
deleted refs to wear and tear. add cash basis, replacement of domestic items relief, property allowance and updated legislative references
Use of trading income rules: contents
- Additional page added as examples split from overview
Income excluded from UK property business: contents
Updated to reflect changes to pages
Income excluded from UK property business: other property income
- Rewritten
Income excluded from UK property business: wayleaves: CT
- Updated legislation and removed references to cases and removed references to schedules and cases
- Removed legislation section as added as title
- Removed section defining easements as does not appear to be defined in CTA09 sections
Rent from property outside the UK: Corporation Tax (CT)
- updated to reflect CTA09
add pim1005
Introduction: Property Income: Income Tax
taken out a lot of unnecessary detail updated references
Introduction: what is a UK property business?
update to CTA09. update cash basis
Income chargeable: deposits or bonds taken from tenants
- Minimal rewriting of section split from 1051
- Previous 1052 now 1054
Use of trading income rules: splitting receipts and expenses between years
- split examples from page
- added hyperlinks to BIM pages
- added reference to cash basis at top of page
- signposted interest restriction
- use of cash basis section to be archived
2016
Deductions: main types of expense: expenses for own home
Added PIM2106 for detail of finance cost restriction
Deductions: main types of expense: fees for loan finance and similar items
Updated to refer to finance restriction