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Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams
Free ACCA & CIMA online courses from OpenTuition
Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams
in the allowable exps segment can someone please explain the (g) point
if you incure any revenue expenditure before letting the apartment/room(max 7yr before renting). relief can be claimed. basically without these setup revenue expenditure you would not be able to rent the room. soo it can be decucted against the revenue earned.
I am sitting F6 exam in December 2018. As per your lecture 75% is a deductible expense for mortgage interest for 2017/18. Would 75% still be valid for Dec 18 exam,or should I calculate it at 50%?
75% is valid
For example 2, why is redecorating an allowable deduction? Is it not considered a capital expenditure?
if it happened prior to the letting within 7 years capital expenditures are allowable.