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The Property income summary template lets you enter a summary figure for property income and losses where the UK property business has not been selected as a full business type. It is a simple way to bring property income into the computation without completing the full property income analysis.

Table of contents 

When should I use this template?

Use it where the company has some property income to include in the computation but you do not need (or have not selected) the full UK property business business type. Where the property business is selected as a business type, use the Property income adjustment-of-profit template instead.

How the analysis works

Enter the property income (or loss) as a summary figure. Where a long period of account applies, the income is apportioned across the two accounting periods so the correct amount falls in each.

What flows through to the rest of Corporation Tax?

The property income entered here feeds the Taxable income computation as UK property business income.

Where the data comes from

  • The property income figure is entered here (this template is used where the full UK property business business type has not been selected); it is not pulled from the P&L / OCI analysis in the way the full Property income template is.
  • The amount feeds the Taxable income computation, and interacts with the Losses memorandum where there is a property loss.

Frequently asked questions

How is this different from the Property income (adjustment of profit) template?

This template takes a summary figure where the property business type has not been selected. The full Property income template performs the detailed adjustment-of-profit computation when UK property business is selected as a business type.

How is a long period of account handled?

The income is apportioned across the two accounting periods automatically.