mkcchan

Dear HMRC Admin, I see the guidance of working out the tax relief of residential property as below: The reduction is the basic rate value (currently 20%) of the lower of: (1) Finance costs - costs not deducted from rental income in the tax year (this will be a proportion of finance costs for the transitional years) plus any finance costs brought forward (2) Property business profits - the profits of the property business in the tax year (after using any brought forward losses) (3) Adjusted total income - the income (after losses and reliefs, and excluding savings and dividends income) that exceeds your personal allowance Referring to (2) Property business profits, is it total rental profits from ALL rental properties if I have more than one property? Or, is it only the profits from the property that I claim for tax relief? Pls comment. Thanks.