Example 2 – Chapter 3 help.

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June 7, 2019 at 5:58 pm #519678
kingkongsajang
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I have looked at the lecture,
I wanted to know why if a new tenant starts from July 2018 and you didn’t get paid for June 2018 by old tenant, it is 11/12 x £9600 because isn’t the tax year from April 2018 to April 2019?
therefore from July 2018 to April 2019 is 10 months and rent is paid 1 month in advance so
its 9 months out of the 12 so – 9/12 x £9600 no?
June 8, 2019 at 6:12 am #519771
Tax Tutor
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The tax year as you should clearly know is from 6 April to following 5 April and rent is received for 11 months of the tax year – all except June!
The old tenant = 1 month received 1 May 2018
New tenant = 10 months received 1 July 2018 to 1 April 2019
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