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Home > > Tax rates and allowances > Residential property letting

Residential property letting

Tax on rental business profits:
Unincorporated income tax rates - 20/40/50%
Incorporated2 corporation tax rates - 20/25/24%
Tax on chargeable gain on disposal:
Unincorporated 18% or 28% on excess over exempt amount
Incorporated3 corporation tax rates
Maximum letting exemption relief1 £40,000
Landlord's energy saving allowance:
Maximum claim for income tax payers £1,500
Maximum claim for corporate landlords £1,500
Basis claimable claim per property
The claim is available until 2015
Rent a room scheme income exemption £4,250

Notes

  1. Letting relief is available on let property which has been occupied as your main home
  2. Annual profits are not subject to national insurance
  3. The rate will be dependent on your taxable income for the year

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Lambert Chapman LLP is a limited liability partnership registered in England and Wales under registered number OC328593. The Registered Office is 3 Warners Mill, Silks Way Braintree, Essex CM7 3GB. Partner denotes member of the LLP.

Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.
Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisors