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Property Income Allowance

Generous and non-questionable deduction from company profits for director?

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Sole director of small family company which operates from his home (jointly owned with wife, not connected with the company).

Under the new Property Income Allowance rules, can £2000.00 be claimed in the company accounts (£1000.00 per owner), without the need for the director and his wife to declare on their Tax Returns, with an appropriate credit to his director's loan account, and without any questions asked by HMRC to justify the amount? Good way of getting a grand out of the company if so!


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By Tax Dragon
11th Apr 2019 14:41

If you search for “property income allowance” under “search any answers”, you would be surprised to find that you are not the first person to have had this brilliant idea.

Clicking into any of the previous threads would tell you why it doesn’t work.

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Replying to Tax Dragon:
11th Apr 2019 14:44

Doh and damn...thanks anyway.

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By AnnAccountant
11th Apr 2019 15:55

To get your clients' "tax perfect" you might bother yourself to read the legislation or some guidance every now and again.

Just a thought.

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By Tim Vane
11th Apr 2019 21:12

Taxperfect LOL.
Taxperfick maybe.

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