Policy paper

Calculation of profits of property businesses

This measure amends and inserts provisions relating to the calculation of the profits of a property business.

• From: HM Revenue & Customs
• Published: 31 January 2017

Documents

Income Tax: simplified cash basis for unincorporated property businesses

HTML

Draft legislation: calculation of profits of property businesses

PDF, 142 KB, 18 pages

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Explanatory note for calculation of profits of property businesses - clause 1 and schedule 1

PDF, 171 KB, 9 pages

Details

This includes, in particular, allowing the use of the cash basis to calculate the profits of a property business, and supporting provisions to outline what is to be recognised as income and what deductions are allowed under the cash basis.

Comments about this legislation should be send by email: propertycashbasis.consultation@hmrc.gsi.gov.uk by 28 February 2017.

Published 31 January 2017