BIM41000 - Specific receipts: rents: contents

Subject to a few exceptions, rents received in respect of premises should, in law, be excluded, together with the related outgoings, in computing the profits of a trade or profession.

Guidance on:

  • »Ê¹ÚÌåÓýapp taxation of rents and other income from property is in the Property Income Manual.
  • »Ê¹ÚÌåÓýapp commercial background and accountancy treatment of leasing is in the Business Leasing Manual.

This chapter contains the following:

  1. BIM41001
    Rents are not trade receipts
  2. BIM41005
    Profits from services to tenants
  3. BIM41010
    Letting surplus accommodation: expenses
  4. BIM41015
    Letting surplus accommodation: rents may be treated as trading receipts
  5. BIM41020
    Letting surplus accommodation: rents may be treated as trading receipts: example