Calculating property business income

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Calculating property business income by Mind Map: Calculating property business income

1. Premiums

1.1. Received by landlord

1.1.1. 50 years or less

1.1.1.1. Part income, part capital

1.1.2. More than 50 years

1.1.2.1. Capital

1.2. Paid by landlord

1.2.1. 50 years or less

1.2.1.1. Relief for income element

1.2.2. More than 50 years

1.2.2.1. No relief

2. Finance costs

2.1. Company

2.1.1. Loan relationship rules

2.2. Individual

2.2.1. Residential

2.2.1.1. Relief at basic rate only

2.2.2. Commercial

2.2.2.1. Relief as deduction

3. Trade rules

3.1. Wholly and exclusively

3.1.1. Uncommercial rents

3.2. Revenue expenditure

4. Capital expenditure

4.1. Cash basis or accruals basis?

4.2. Residential property

4.2.1. No Capital Allowances

4.2.2. Relief for replacing domestic items

4.3. Commercial property

4.3.1. Capital allowances for plant and machinery

4.4. Used in running business; eg car