Alternative calculation of profits if amount exceeds limit

Generally

Legislation/Regulatory – ITTOIA2005 s. 795

Income chargeable

Legislation/Regulatory – ITTOIA2005 s. 798
HMRC Guidance – PIM4030

Property income

Legislation/Regulatory – ITTOIA2005 s. 797

Trading income

Legislation/Regulatory – ITTOIA2005 s. 796

Calculation of profits

Legislation/Regulatory – ITTOIA2005 s. 309
HMRC Guidance – PIM4001

Elections

Alternative method of calculating profits

Legislation/Regulatory – ITTOIA2005 s. 800
HMRC Guidance – PIM4030 ; PIM4040 ; PIM4050

Not to apply full relief

Legislation/Regulatory – ITTOIA2005 s. 799
HMRC Guidance – PIM4020 ; PIM4040 ; PIM4050

Time limit on adjustment of assessment

Legislation/Regulatory – ITTOIA2005 s. 801

Exclusive receipts condition

Legislation/Regulatory – ITTOIA2005 s. 790

Full relief

Generally

Legislation/Regulatory – ITTOIA2005 s. 791

Income chargeable

Legislation/Regulatory – ITTOIA2005 s. 794
HMRC Guidance – PIM4020

Property income

Legislation/Regulatory – ITTOIA2005 s. 793

Trading income

Legislation/Regulatory – ITTOIA2005 s. 792

Generally

Commentary – CGT and the Private Residence ¶70-105

Individual's limit

Legislation/Regulatory – ITTOIA2005 s. 789
HMRC Guidance – BIM86034 ; PIM4010

Letting, meaning

Legislation/Regulatory – ITTOIA2005 s. 802

Property income

Legislation/Regulatory – ITTOIA2005 s. 215, 793, 797

Property losses

Commentary – 4.3.5

Qualifying individual

Legislation/Regulatory – ITTOIA2005 s. 785
HMRC Guidance – PIM4001

Relevant allowance, meaning

Legislation/Regulatory – ITTOIA2005 s. 802

Relevant balancing charge

Legislation/Regulatory – ITTOIA2005 s. 802

Rent-a-room receipts, meaning

Legislation/Regulatory – ITTOIA2005 s. 786
HMRC Guidance – PIM4010

Residence, meaning

Legislation/Regulatory – ITTOIA2005 s. 787
HMRC Guidance – PIM4002 ; PIM4004

Taxable income, meaning

Legislation/Regulatory – ITTOIA2005 s. 785(2)

Total rent-a-room amount, meaning

Legislation/Regulatory – ITTOIA2005 s. 788
HMRC Guidance – PIM4010 ; PIM4020

Trading income

Legislation/Regulatory – ITTOIA2005 s. 23, 792, 796