Property allowance for higher rate taxpayers and question about self assessment

Hello, As I understand it, an individual has a £1000 rental income allowance which is tax free (property allowance). Does this property allowance also apply to: 1. higher rate tax payers, and 2. residents of Scotland One more question: does an individual have to declare the £1000 tax free rental income (covered by this allowance) on the self assessment? Thanks in advance.

Hi,

Yes, the property income allowance applies to all, but no expenses can be claimed at the same time. It's either one or the other. so you need to decide which is more beneficial to you.  

You declare your full profits then claim the property income allowance in the box on the form and this is then taken into account.

Thank you.