Section 50 property

H

howareya

Registered User
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tried to google search this topic but nothing came up. sorry if already asked

Can anyone explain what a sec 50 property is??

Is it similar to sec 23/27
 
thanks.
obviously my googling is not that good i was at it for 20 mins and got nothing
 
I just went to advanced search and entered Section 50 in the section "with the exact phrase" found info in a couple of seconds
 
Am i right in thinking that rental income from Section 50(student acc) can be offset against PAYE?
 
There are/were some reliefs that do/did allow a write-off of purchase price against income of any source.
 
Glenbhoy said:
There are/were some reliefs that do/did allow a write-off of purchase price against income of any source.
Click to expand...

What you are referring to is a capital allowance scheme in designated areas i.e. BMW region.
Section 50 merely creates a huge loss in the first year of renting i.e. your rent for the year less the qualifying expendiure on the accomadation. Rental losses can only be used to shelter rental income both current year and carried forward
hence the reason why a s.50 or a s.23 investment property is only usefull to a individual with more than one property
 
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