BIM41000 | Specific receipts: rents: contents

Subject to a few exceptions, rents received in respect of premises should, in law, be excluded, together with the related outgoings, in computing the profits of a trade or profession.

Guidance on:

• The taxation of rents and other income from property is in the Property Income Manual.

• The commercial background and accountancy treatment of leasing is in the Business Leasing Manual.

This chapter contains the following: