| Tax on rental business profits: | ||
| Unincorporated | income tax rates – 20/40/50% | |
| Incorporated | corporation tax rates – 21/29.75/28% | |
| Tax on chargeable gain on disposal: | ||
| Unincorporated | 18% on excess over exempt amount | |
| Incorporated | corporation tax rates | |
| Maximum letting exemption relief 1 | £40,000 | |
| Landlord’s energy saving allowance: | ||
| Maximum claim for income tax payers | £1,500 | |
| Maximum claim for corporate landlords | £1,500 | |
| Basis claimable | claim per property | |
| The claim is available until 2015 | ||
| Rent a room scheme income exemption | £4,250 | |
Notes
- Letting relief is available on let property which has been occupied as your main home.
- Annual profits are not subject to national insurance.