Sam Leatherland

Hello, Thank you for you feedback. I can't seem to find any HMRC guidance when it speficially mentions transitional profits when the income is received from a Partnership in the form of UK Land & Property. Could you please advise me on the best course of action. Kind Regards

Dear All, Am i right in saying that the client's share of the partnership's uk land & property income is treated exactly the same as their share of the partnership trading profits, when it comes to working out the transitional profit? For example Accounting period (01/11/22 to 31/03/24) aka 517 days (B/Fwd overlap profit being £25,434) Share of profit from partnership UK land & property = £65,130 Standard Part - Amount used is 365/517 total = £45,982 (£65,130 x 365/517 days) Transition Part - Amount used is 152/517 total = £19,148 (£65,130 x 152/517 days) Transitional loss = £6,286 (£19,148 less overlap profit B/Fwd £25,434) Therefore net profit to declare is £36,696 (£45,982 less transitional loss (£6,286)) Is this correct? Kind Regards

My client is currently employed and working abroad in the UAE and also has a small self employment business as an author, which started in the UK before they started working abroad. My question is, can my client still claim the flat rate of home as office, being £6 per week while they are still working abroad, or is this not an allowable expense? Kind regards