Reader Interactions
Comments
Leave a Reply
You must be logged in to post a comment.
Free ACCA & CIMA online courses from OpenTuition
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
Hello,
In section 2 of ch 3 is property loss, i would like to clarify if property loss come from property A can offset the property income from property B? or the loss can be offset in same property only?
thank you
Thank you for this great lecture, its been very useful.
You did write at the end of this chapter that we should practise questions 7 to 9. Where might we find the questions please? Thank you.
Hello sir, in the first video ex 2, I did not understand why we did not include many 2019 redecoration , since it has been completed btn 1st July 2018 to 30th June 2019
Hello.
If we are not told that we are using the accruals basis then we should use the cash basis?
Thank You
Out of interest, what about the mortgage cost itself, not the mortgage interest, is this not tax deductible? Is this treated differently?
If I was renting out a place for £1200 and had to pay £1000 for the mortgage, profit is really only £200, why is this not taken into account?
How did we divide 56700 into 37500 and 19200 for tax rate? I don’t understand this.
Dear Sir, Thank you for the detailed and very clear lectures. It is a great web site and I enjoy it a lot.
Thanks a million!
Anna
If the company rate is 19%, there is actually no such incentive to incorporate just to get the finance expenses alone as it is otherwise released at a much higher rate of 20%( basic rate tax-payer) under no-incorporation. Plus of we have the incorporation costs and subsequent maintenance costs ( filing etc) to maintain such an entity.
Could you tell me, why in Example 3, we didn’t make an adjustment of 500 at 0%, as for higher rate taxpayer?
Example 3 is only non-savings income.
Savings income benefits from the starting rate and nil rate bands.
Hi sir,
If there is property loss brought forward is it put against profit in the calculations or other trading losses in the computation?
Just made an account to say thx appreciate all the hard work and effort
Hi Sir,
What’s the difference between an ISA and a common bank account or share?
Hi,
Thanks for the lecture.
On the second video (Sid – example 2), I don’t understand why we count 11 months of rent received instead of 8 months?
The tax year finishing on the 5th of April 2021, and the cash basis being used, I assumed we would only account the rent received from July 2020 to March 2021.
Thank you.
Sorry I meant 9 months (not 8)
Hi, I guess the calculation is done on the basis that the property was on rent from April 2020 to June 2020 with one tenant who vacant the property on, lets say 01 June 2020. So they paid rent for 2 months. The property remained vacant until 30 June and next tenant took over from 1 July to 1 April 2021 (9 Months). So the total would be 11 months.
Correct me if I am missing something. Thanks.
Rent received during the year.
April 2020- Previous tenant
May 2020- Previous tenant
June 2020- Rent not received
July 2020- Rent Received
August 2020- Rent Received
September 2020- Rent Received
October 2020- Rent Received
November 2020- Rent Received
December 2020- Rent Received
January 2021- Rent Received
February 2021- Rent Received
March 2021- Rent Received
April 2021- Rent Received- in Advance, so should be taken into accoun as we are calculating on Cash basis.
Rent received for all the months except for June 2020.
Therefore its 11 months and not 9.
Hope I have answered your question!