What is Property Income Allowance - 1 minute read
Whether you are a landlord or a property investor, the Property Income Allowance is a very useful tax break. It helps you to avoid paying tax on your rental income. This tax relief is available to both individual and joint landlords.
Property Income Allowance is a tax exemption of up to £ 1,000 per year for individuals with income from land or property. You can deduct the cost of converting household items from your rental income tax when calculating your net profit for the year on which you pay the tax.
Property owners receiving rental income may disappear from the recently introduced tax-exempt allowance.