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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 7298
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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On the property income page what does box 20.1 property

Customer Question

On the property income page what does box 20.1 property income allowances refer to
JA: Have you talked to a tax professional about this?
Customer: no
JA: Anything else you want the Accountant to know before I connect you?
Customer: It is the first time I have filled in this page and I am not sure how to do it
Submitted: 7 days ago.
Category: Tax
Expert:  taxadvisor.uk replied 7 days ago.

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Expert:  taxadvisor.uk replied 7 days ago.

Thank you for your question.

All income from property, including any foreign property, up to £1,000, is exempt from tax and does not need to be reported on a tax return.

If your property expenses exceed £1,000 in total, then you show actual expenses and ignore entry on Box 20.1

More information on this is covered on Pages UKPN1 and UKPN5 of SA105 notes here

https://www.gov.uk/government/publications/self-assessment-uk-property-sa105

My aim is to give you a professional service. I hope this is helpful and answers your question.

If you need more assistance, please use the reply box below and let me know. It has been my pleasure to assist you with your question.

Customer: replied 7 days ago.
Sending me the link to the notes was very helpful. I had not received them and couldn't find them but with their help I think I will be able to fill in the page. I will come back if I cannot. Thanks
Expert:  taxadvisor.uk replied 7 days ago.

Thank you for your reply.

I hope this is helpful and answers your question.

Expert:  taxadvisor.uk replied 5 days ago.

Hi there

Just checking to see if you need more clarification/information or have I answered your question.

Many thanks