[mashal63]

I grossed up the gross figure….. 🙁

[mashal63]

In the Formula, yes. Only these three things are to be deducted from the Rent received before taking 10% on it and then add the figure in allowable expenses.

[mashal63]

The formula is 10% x (rent received – council tax – water/business rates).

So in order to achieve the figure of RENT RECEIVED in the above formula, you should get rid of the BAD DEBT first, in order to arrive at the actual rent received…. And then when you get the figure for rent received, just put that figure in the formula and you are done….

Hense you can write the formula like this:

10% x [ (rent received – bad debt) – council tax – water/business rates) ]

[mashal63]

Thank you so much tutor, So nice of you. You are the best…. (Y)

[Author]

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