Sarah Bradford explains how to determine when a property business starts and finishes.
For tax purposes, profits from UK land or property are treated as from a business. While the profits and losses for the property business are calculated in the same way as for a trade, the taxpayer is not treated as actually trading. The profits of an unincorporated property rental business are charged to income tax, while those of a property rental company are charged to corporation tax.
Where a person has more than one source of income from land and property in the UK, all the sources are treated as part of the same property business. The income and the expenses from all sources
