Rent. Property Income or Trade | AccountingWEB

Rent. Property Income or Trade

I have inherited a new client (Partnership). They own a large office building which they use one floor for their business (Printing) and rent out the remaing floors. Rental Income amounts to approx £80k per annum. The previous accountants have included this as trade income. As the renting is not a temporary let of surplus space but an ongoing arrangement I believe this should be taxed as Property Income. Would others agree?


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yes it should be taxed as prop income

carnmores |
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National Insurance

thacca |
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yes but

carnmores |
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blok |
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