Hi All,
That time of year again,
Have my form 12 more or less completed for an income i get on a rental property.
I just have a question about the USC on this income.
From what i understand the USC is charged on the income after "repairs", "interest" and "other", but before CapitalAllowances. Am i correct on this?
Also, do i just work out the USC amount owed and add it to the 40% tax i already owe?
I don't see anywhere on the form that it asks you to fill in details of it so just wondering how that works?
Thanks
That time of year again,
Have my form 12 more or less completed for an income i get on a rental property.
I just have a question about the USC on this income.
From what i understand the USC is charged on the income after "repairs", "interest" and "other", but before CapitalAllowances. Am i correct on this?
Also, do i just work out the USC amount owed and add it to the 40% tax i already owe?
I don't see anywhere on the form that it asks you to fill in details of it so just wondering how that works?
Thanks