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Chapter 3 – Property Income and Investments – Individuals – ACCA Taxation (TX-UK) lectures

3.1 Property Income Assessments [49m]

3.2 Property Income Assessments, Furnished Holiday Lettings and Rent a Room [48m]

3.3 Lease Premiums and ISA’s [35m]

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  3. 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.

      • 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!

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