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Small parcel of land

Pete t
Posted Thu, 15 Aug 2024 15:46:17 GMT by Pete t
Me and my wife have a small parcel of land of which, we have a small income, £4500 pa is their any tax relief on this, as I filled in my tax return for the first time , and assumed that HMRC will do it for me. .??
HMRC Admin 25
Posted Fri, 16 Aug 2024 16:01:37 GMT by HMRC Admin 25
Hi ptunstall1,
You may be able to claim expenses relating to your property income, or the Property Income Allowance, you cannot claim both.
Please refer to our online Property Income Manual for more information.
Property Income Manual
You will also need to make any relevant claim, HMRC will not do this on your behalf.  
Tax-free allowances on property and trading income
Thank you. 

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