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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 [60m]

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  1. aahyan says

    December 10, 2022 at 8:15 am

    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

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  2. Ndianabasi says

    July 11, 2022 at 9:53 pm

    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.

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  3. blesson141 says

    February 4, 2022 at 7:42 pm

    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

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  4. shalinarohimun says

    January 24, 2022 at 11:29 am

    Hello.
    If we are not told that we are using the accruals basis then we should use the cash basis?
    Thank You

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  5. nick695 says

    January 23, 2022 at 12:31 pm

    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?

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  6. DevB says

    January 20, 2022 at 5:49 am

    How did we divide 56700 into 37500 and 19200 for tax rate? I don’t understand this.

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  7. Anna1207 says

    January 17, 2022 at 7:44 am

    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

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  8. kplwijet says

    January 4, 2022 at 9:10 am

    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.

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  9. ttosechkaa says

    August 10, 2021 at 9:13 pm

    Could you tell me, why in Example 3, we didn’t make an adjustment of 500 at 0%, as for higher rate taxpayer?

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    • kish200 says

      September 19, 2021 at 7:13 am

      Example 3 is only non-savings income.
      Savings income benefits from the starting rate and nil rate bands.

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  10. clunisd says

    May 11, 2021 at 1:55 am

    Hi sir,

    If there is property loss brought forward is it put against profit in the calculations or other trading losses in the computation?

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  11. FingerSizedToes says

    April 7, 2021 at 4:50 pm

    Just made an account to say thx appreciate all the hard work and effort

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  12. 2dop says

    April 5, 2021 at 2:49 pm

    Hi Sir,

    What’s the difference between an ISA and a common bank account or share?

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  13. alan38 says

    March 10, 2021 at 6:49 pm

    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.

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    • alan38 says

      March 10, 2021 at 6:50 pm

      Sorry I meant 9 months (not 8)

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      • htulshan says

        March 23, 2021 at 6:22 pm

        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.

    • kronos4230 says

      March 24, 2021 at 7:40 pm

      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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