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The Property income template is the adjustment-of-profit computation for the company's UK property business. It starts from the accounting result of the property business, applies the tax adjustments and capital allowances, and arrives at the taxable property business profit (or loss) for the period.

Table of contents 

When should I use this template?

Use it where the company has selected UK property business as a business type in Return information. It draws together the analysis and schedules completed elsewhere into the property income computation.

Before you start

Complete the following first, as this template consolidates them:

  • Select UK property business as a business type in the Business type section of the Return information template.
  • Complete the Profit and loss / OCI analysis for the property business.
  • Complete the relevant adjustment and capital allowance schedules.

How the computation works

The template pulls together, for the property business:

  • the accounting result of the property business;
  • the adjustments analysed in the P&L / OCI analysis and the dedicated schedules (for example disallowable expenses and provisions allocated to the property business); and
  • the capital allowances attributable to the property business.

As with trading income, the figure updates as the underlying schedules are completed, and produces the adjusted property business profit or loss.

Where the data comes from

The Property income computation is assembled automatically from across the workflow:

  • the accounting result of the property business from the trial balance, via the Profit and loss / OCI analysis (and Additional analysis);
  • the adjustments to profit from the P&L / OCI analysis and the dedicated adjustment schedules; and
  • the capital allowances attributable to the property business from the capital allowance schedules.

Because it reads these results, the figure updates as you complete the underlying templates rather than being keyed in directly. It feeds the Taxable income computation.

What flows through to the rest of Corporation Tax?

The adjusted property business profit or loss feeds the Taxable income template and the tax computation. A property business loss feeds the losses templates for relief.

Frequently asked questions

How is this different from Trading income?

It performs the same adjustment-of-profit computation but for the UK property business rather than the trade. Both appear where the relevant business type is selected.

Do I enter figures directly here?

Mostly not — the template consolidates the accounting result, adjustments and capital allowances for the property business. Complete those first.

What if the property business makes a loss?

The result can be a loss, which feeds the losses templates for relief or carry forward.

This article relates to the Property income template in the UK Corporation Tax workflow. It is provided as guidance and does not constitute tax advice.