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F6 Dec 2011 Q 4 Leticia Stone

This topic has 1 reply, 2 voices, and was last updated 8 years ago by Tax Tutor.

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November 23, 2016 at 6:18 pm #351043
joshxink
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the Gross Rent for Furnished room is £ 3170 therefore less than £ 4250…why is it not exempt ? That’s the only thing bothering me in that question. Thank you.
https://www.chinaacc.com/upload/html/2013/07/01/lixingcun25823bc5f1b746fbacff07471f466b8c.pdf
November 24, 2016 at 11:41 am #351162
Tax Tutor
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The question states for you to use the most favourable manner for tax purposes which would be to forego the rent a room relief which would as you say simply exempt the income and instead choose the normal basis of assessment which would generate an allowable loss!
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