Demo Client Ltd.
D

Tax Estimate

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Tax Estimate

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Total Tax Payable
£ 7,000.00
Aggregate Income
£ 58,800.00

( ) Taxpayer Details

Name
Robert Redford
UTR No.
NJPY19257C
Date of Birth
15/02/1980
Gender
Male
Employer Category
Self Employed
Address
120 Central Avenue, London, United Kingdom, Postal Code E1 6AN
Tax Year
Return Filed under
SA105
Tax Return Status
Draft
Description of Property
FHL - Rented out
Property Possession Date
17/04/2020
Accounts Finalization Date
30/09/2020
Number of properties rented out
2
Claiming Rent a Room relief
Yes
Particulars
Amount ( £ )
Income
( the amount of rent and any income for services provided to tenants )
50000.00
Rent paid, repairs, insurance and costs of services provided –
( the total amount )
5000.00
Property income allowance
3800.00
Loan interest and other financial costs
1800.00
Legal, management and other professional fees
500.00
Other allowable property expenses
150.00
Private use adjustment
600.00
Balancing charges
250.00
Electric charge-point allowance
150.00
Other capital allowances
220.00
Adjusted profit for the year
7000.00
Loss brought forward used against this year’s profits
3500.00
Taxable profit for the year
3500.00
Total loss to carry forward
800.00
Period of grace election taken
Yes
Particulars
Amount ( £ )
Total rents and other income from property
1200.00
Property income allowance
500.00
Premiums for the grant of a lease
300.00
Reverse premiums and inducements
200.00
Particulars
Amount ( £ )
Rent, rates, insurance and ground rents
1000.00
Property repairs and maintenance
1500.00
Non-residential property finance costs
150.00
Legal, management and other professional fees
300.00
Costs of services provided, including wages
50.00
Other allowable property expenses
50.00
Particulars
Amount ( £ )
Private use adjustment
250.00
Balancing charges
600.00
Annual Investment Allowance
200.00
The Structures and Buildings Allowance
300.00
Electric charge-point allowance
50.00
Zero-emission goods vehicle allowance
30.00
All other capital allowances
100.00
Costs of replacing domestic items
( for residential lettings only )
60.00
Rent a Room exempt amount
50.00
Adjusted profit for the year
14000.00
Loss brought forward used against this year’s profits
5000.00
Taxable profit for the year
9000.00
Adjusted loss for the year
500.00
Loss set off against 2020–21 total income
100.00
Loss to carry forward to following year
( including unused losses brought forward )
500.00
Residential property finance costs
80.00
Unused residential property finance costs
( brought forward )
100.00
Taxable Profit
9000.00