Company property or personal rental income?
The starting question is who owns the property. A company’s records and tax work are separate from an individual landlord’s personal return. If ownership is mixed, explain which properties and transactions belong to each owner.
rental income taxRecords that shape property accounts
Keep tenancy and rent records, invoices, finance statements and documents for purchases or disposals. Describe the purpose of property spending. A repair, an improvement and a new asset should not be treated as interchangeable simply because each was paid to a contractor.
Preparing company figures
Company accounts bring those records together with other balances and activity. Corporation tax work follows a separate calculation. Reviewing property transactions early can help identify the information needed before year-end questions become harder to answer.
Questions before changing structure
Moving a property into or out of a company can involve more than changing the name on an invoice. Discuss the proposed transaction before acting, so accounting, tax and legal questions can be considered together with the appropriate advisers.
Your questions, answered.
Is this page for personal landlords?
No. The rental income tax page covers individuals. This page is about property held through a company.
How should property improvements be recorded?
Keep detailed invoices and explain what work was done. The treatment depends on the nature of the expenditure.
Do property company accounts include corporation tax?
The accounts and corporation tax return are connected but separate tasks. Both should be included in the discussion about scope.