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ACCA F6 Property Income and Investments – Individuals (part 2)
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hello,
Can someone tell me where i can find those practice question please ?
at the end of the course notes.
Hi
I was wondering in example 5.
for the trader how does he know (Property Income assessment on landlord)
isn’t there returns separate so how would the trader know the amount here. Also does that not already include rent??
confused with this
Hi Leanne,
In the question content, it’s directly followed by the answer of question example 4.
(Property Income assessment on the landlord for the short lease is a percentage of the premium, irrelevant of the rent.
Best wishes
Harry
HI Tutor,
In practice question N° 7 (Peter), why the unpaid rent for March 2017 is not part of deductions as Peter did not receive this rental income ?
Thanks.
Daniel.
Hi Daniel,
It’s calculated as accurred basis, as long as the rental is received at a later date, i.e. not a bad debt. It’s counted as normal.
Best wishes
Harry
Hi Tutor,
Can you please have a look at the advised practice question N° 2 (Kate).
The non saving and saving taxes seems wrong as you used 32800 X 20% instead of 34500 X 20%. Please confirm.
Regards.
Daniel.
Hi Daniel,
32800 is the entire taxable income for Kate’s N.S.
34500 is the adjusted basic rate threshold after Gift Aid.
Best wishes
Harry
Hi great lectures I have been learning a lot, where can I get the Finance Act 2015 technical article
On the ACCA website
Question Please: The lessor received 60K premium. We calculate £37,500 is the amount to be taxed by following the formula.
However, doesn’t that essentially mean the difference between 60K and 37.5k is not taxed?
If the Landlord’s total property income is 40,950 pounds, how come only the 37,200 pounds from the premium is used in computing the amount allowed for the trader? Or is the 5000 pounds rent due from another property?
thank you..