Property Company Accounting

How do you file a CT600 for a property company on TinyTax? This guide covers what's different about property companies, which fields to use, and how property losses work.

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Setting Up Your Property Company Filing

When starting your CT600, select Property Company as the company type:

Choose Property Company if your company's main income is from letting or renting property. This changes the form to show property-specific fields.

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What's Different for Property Companies?

The form layout is mostly the same as for trading companies, with these key differences:

Aspect	Trading Company	Property Company
Income field	Turnover (Box 145)	Property rental income (Box 190)
Net profit box	Box 165 (Net trading profits)	Box 190 (Income from property business)
Losses label	Losses	Property Losses
Losses brought forward box	Box 160	Box 250

Everything else — staff costs, other charges, depreciation, AIA, marginal relief — works the same way.

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Entering Your Figures

Income

Enter your total rental income in the Property rental income field. This is the gross rent received before deducting expenses.

Expenses

Enter your costs in the standard P&L expense fields:

Field	Property company examples
Cost of raw materials and consumables	Materials for minor repairs you do yourself
Staff costs	Property manager salary, cleaner wages
Depreciation	Depreciation on fixtures, furniture, equipment
Other charges	Agent fees, insurance, repairs, mortgage interest, legal fees, utility bills (if landlord-paid), advertising for tenants

Capital Allowances

The Annual Investment Allowance (AIA) is available for property companies. You can claim AIA on:

• Furniture and furnishings in rental properties
• Tools and equipment
• Vehicles used for the property business
• Fixtures (boilers, radiators, fitted kitchens in commercial properties)

You cannot claim AIA on the property itself. Buildings and land are not qualifying assets for capital allowances.

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Property Losses

Losses Brought Forward

If your property business made a loss in a previous year, enter the amount in the Property losses brought forward field (Box 250). This offsets against your current year's property income.

Current Year Losses

If your property income minus expenses produces a loss this year, TinyTax calculates this automatically. The loss carries forward to future years.

What Your CT600 Looks Like in a Loss Period

When your property business makes a loss, your CT600 may look surprisingly empty — this is correct and expected. Here is how the key boxes are affected:

Box	Label	Profit period	Loss period
Box 190	Income from a property business	Shows your net property income	Zero — because net income is negative
Box 805	UK property business losses	Zero	Shows the loss amount to carry forward
Box 235	Total profits	Shows taxable profit	Zero
Box 345–365	Tax calculation	Shows corporation tax due	All zero — no profit means no tax

This is standard HMRC treatment, not a limitation of TinyTax. The loss is reported in Box 805 and will automatically carry forward to offset against future property profits.

How Property Losses Differ from Trading Losses

Property losses can only be offset against future property income. Unlike trading losses, they cannot be:

• Set against other types of income (e.g., interest income) in the same period
• Carried back to previous periods

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Common Scenarios

Single Rental Property

Situation: You own one buy-to-let property through a limited company.

How to file:

1. Select Property Company
2. Enter gross rent as Property rental income
3. Enter agent fees, insurance, repairs, mortgage interest in Other charges
4. Enter any staff costs if applicable
5. Claim AIA for any qualifying equipment

Multiple Rental Properties

Situation: Your company owns several rental properties.

How to file: Same as above — combine the figures. Enter the total rental income across all properties, and the total costs.

Property With No Tenants (Void Period)

Situation: Your property was empty for part of the year.

How to file: Enter the rent received (for the occupied period). Costs incurred while the property was empty are still allowable expenses — include them in Other charges.

Property Purchased, Not Yet Rented (Pre-Letting Phase)

Situation: Your company has purchased a property and is preparing it for letting (e.g., renovation or refurbishment) but has not yet received any rental income.

How to file:

1. Select Property Company
2. Leave Property rental income at zero — no rent has been received yet
3. Enter any allowable revenue expenses in Other charges: loan/mortgage interest, insurance, ground rent, and minor maintenance costs incurred before the property was available to rent
4. Refurbishment / renovation costs: if the work improves the property (e.g., new extension, structural work, replacing a kitchen in a previously unmodernised property), it is likely capital expenditure and belongs on the balance sheet as a Fixed Asset addition — not a P&L expense. Minor repairs to make the property habitable are usually revenue expenses (Other charges). If you are unsure, consult your accountant — see the FAQ below for more guidance.
5. The property purchase price goes on the balance sheet as Fixed Assets — it is never a P&L expense

What you will see:

• Box 190 = zero (no rental income, so no net property income)
• Box 805 = any allowable pre-letting revenue expenses (e.g., loan interest) — this is your property loss, which carries forward automatically to offset against future rental income
• All tax calculation boxes = zero — no profit, no tax due

Importing from Xero: Export your trial balance from Xero (Accounting → Reports → Trial Balance, set the date to your period end, Export as CSV). In TinyTax, click the Import button next to the Profit & Loss heading and upload the file. Your property asset will map to Fixed Assets on the balance sheet; your loan to Creditors; and any interest or maintenance costs to Other charges in the P&L. See our Xero import guide for full step-by-step instructions.

Property Company Making a Loss

Situation: Your company received £18,000 in rent but had £30,000 in expenses (mortgage interest, repairs, agent fees). The property business made a loss of £12,000.

What you will see:

• Box 190 = zero (net property income is negative, so it shows as zero)
• Box 805 = £12,000 (the property loss to carry forward)
• All tax calculation boxes = zero (no profit, so no tax due)

This is correct. Your rental income is still in the system — it drives the loss calculation. Box 190 does not show gross rent; it shows net income after expenses. Next year, enter £12,000 in the Property losses brought forward field (Box 250) to offset against future property profits.

Property Company With Interest Income

Situation: Your property company has bank interest as well as rental income.

How to file: Enter rental income in Property rental income. Enter bank interest in the Interest income field (Box 170). Both are included in your taxable profit.

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Non-Taxable Income in Your P&L (e.g., Revaluation Gains)

If your company's P&L includes income that does not attract corporation tax — such as fair value movements on investment property under FRS 102 Section 16, or certain capital receipts — you still need it to appear in your accounts (for Companies House) while keeping it out of the CT600 tax calculation.

Step 1: Enter the gain in the Interest income field (Box 170).

Despite the label, this field captures any non-trading income and maps to "Other Operating Income" in the iXBRL accounts sent to Companies House. Enter the revaluation gain (or other non-taxable item) here so it appears in your filed P&L.

Step 2: Enter a matching negative in "Other adjustments".

In the Tax Computation section, find the row labelled "Other adjustments (add if positive, deduct if negative)" and enter the same amount as a negative number. For example, if the fair value gain is £10,000, enter −10,000.

This removes the amount from the taxable profit, so no corporation tax is charged on it.

Common Questions

Q: My company has trading income AND rental income — which type do I choose? A: Choose Mixed Income (Advanced). This gives you access to both turnover (Box 145) and property income (Box 190) fields, plus a dedicated property expenses field.

Q: Where do I enter mortgage interest? A: In Other charges on the P&L. For limited companies, mortgage interest on buy-to-let properties is a fully deductible business expense. (The restriction on mortgage interest relief applies to individual landlords, not companies.)

Q: Can I claim capital allowances on a new kitchen? A: It depends. Replacing a like-for-like kitchen in a residential property is a revenue expense (Other charges). A new kitchen in a commercial property may qualify for capital allowances. If in doubt, consult your accountant.

Q: Can I deduct a charitable donation my property company made? A: Yes, via Box 305 (qualifying charitable donations) — but this field is only available under Mixed Income (Advanced), not Property Company. Switch company type to Mixed Income (Advanced) to access it; this does not remove or change your existing property fields. See our qualifying donations guide for details.

Q: My property made a loss — why is Box 190 showing zero? A: Box 190 shows your net property income (rent minus expenses). When expenses exceed rent, the net is negative, so Box 190 is zero. The loss amount appears in Box 805 instead. Your gross rental income is still recorded — it just does not appear as a separate line on the CT600.

Q: My property made a loss — can I offset it against my salary? A: No. Company losses and personal income are separate. The company's property loss carries forward against future property profits within the company.

Q: I renovated a property before letting it — where do those costs go? A: Pre-letting renovation costs are usually capital expenditure (they improve the property, not maintain it). They may not be deductible as a revenue expense. Consult your accountant for the correct treatment.

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Balance Sheet and Revalued Assets

FRS 105 and Revaluation

Under FRS 105 (micro-entity accounts), revaluation of assets is not permitted by UK accounting standards. All fixed assets, including property, must be carried at historic cost. If your property company has previously revalued its assets, you will need to revert to historic cost in order to file micro-entity accounts.

TinyTax generates FRS 105 accounts automatically for companies that meet the micro-entity thresholds. Entering figures at historic cost (not revalued amounts) is correct and required for this regime.

FRS 102 and Revalued Property

TinyTax automatically switches to FRS 102 Section 1A (small company) accounts when a company's balance sheet total exceeds the micro-entity threshold (£316,000 for periods starting before 6 April 2025; £500,000 for periods starting on or after that date). Many property companies with revalued assets fall above this threshold.

FRS 102 permits revaluation of property assets. However, TinyTax's balance sheet currently does not include a dedicated Revaluation Reserve line in the equity section. The revalued amount is included within the total shareholders' funds figure. If your accounts need a separately presented revaluation reserve (for example, to satisfy a lender), TinyTax may not produce accounts to that level of detail.

Fair Value Gains in the P&L

For companies reporting fair value movements on investment property in their P&L (FRS 102 Section 16), see the Non-Taxable Income section above for how to keep those gains out of taxable profits while still including them in your accounts.

Still Have Questions?

If you're unsure about any aspect of your property company filing, get in touch.

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Last updated: February 2026