Advice needed re properties
I've taken on a new client, limited company, who is buying, renovating and selling domestic properties. He is also renting out one of the properties he has bought. I have split out the capital renovation costs from general maintenance but when I go to create Tax Return in TaxCal, it is taxing him on property rental income and not offsetting the expenditure, which doesn't seem right. Can anyone offer any advise or suggestions on this please
0
Categories
- All Categories
- 1.3K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 388 NEW! Qualifications 2022
- 171 General Qualifications 2022 discussion
- 16 AAT Level 2 Certificate in Accounting
- 78 AAT Level 3 Diploma in Accounting
- 115 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 276 VAT
- 97 Software
- 282 Tax
- 148 Bookkeeping
- 7.2K General accounting discussion
- 211 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 589 Job postings
- 16 Who can benefit from AAT?
- 37 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 24 Apprenticeships
- 67 AAT membership