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  • Property Income Allowance

    I previously rented out a property which has now been sold. Can I claim the £1000 property income allowance even if the property was sold during part way through the tax year (so only received rental income for part of the year), or does the allowance need to be pro-rated in some way? Also, can I claim the £1000 property income allowance in 2021-22 if I have claimed actual expense amounts (and not the property income allowance) in tax years before this?
  • Refund of Expenses After Property Sold

    I have had a rental property for several years which included rental income and expenses for tax years upto and including 2021-22. The property has recently been sold but, as a result, some expenses incurred during 2020-21 have been part refunded shortly after the sale (e.g. due to cancellation of insurance part way through the term, a pro-rata refund was given). Please could you tell me how this pro-rata refund of expenses should be reported (e.g. update tax return for 2020-21, include in tax return for 2021-22 or something else)?
  • Tax Treatment of Gains for Guernsey and Jersey-Based Investment Trusts

    Could you tell me how gains should be reported and taxed when shares in Guernsey and Jersey-based investment trusts are sold? Specifically, whether this is treated like UK-based shares (so reported and taxed as Capital Gains at the 10% and 20% rates as of the time of writing), whether this is considered an Offshore Income Gain (so taxed at income tax rates) or something else? These investment trusts seem to be set up as companies, are described as “closed ended” and are traded on the London Stock Exchange. They appear to hold assets relating to renewable energy such as solar and wind farms.