BIM41000 - Specific receipts: rents: contents

Subject to a few exceptions, rents received in respect of premises should, in law, be excluded, together with the related outgoings, in computing the profits of a trade or profession.

Guidance on:

• The taxation of rents and other income from property is in the Property Income Manual.
• The commercial background and accountancy treatment of leasing is in the Business Leasing Manual.

This chapter contains the following:

1. BIM41001

   Rents are not trade receipts
2. BIM41005

   Profits from services to tenants
3. BIM41010

   Letting surplus accommodation: expenses
4. BIM41015

   Letting surplus accommodation: rents may be treated as trading receipts
5. BIM41020

   Letting surplus accommodation: rents may be treated as trading receipts: example