PIM4432 - Property allowance: contents: computations: overview
Individuals can have relevant property income from either a UK property business or an overseas property business or both.
Different rules apply depending on which sources of income individuals have and the level of that income.
If the total of an individual’s relevant property income from all relevant property businesses in the tax year does not exceed the £1,000 allowance then they qualify for Full Relief as explained in the section that follows. This means receipts must be considered across both UK and overseas property businesses.
If the total of an individual’s relevant property income from all relevant property businesses in the tax year does exceed the £1,000 allowance then they can elect for Partial Relief.
Depending on the sources of income they have they will have a slightly different computation process as explained in the step-by-step guides given at: