sir can we use accrual basis for FHA if its rental income receipts exceed 150,000pounds, like we do in case of (non-)furnished residential and non-residential letting?
Ask the Tutor ACCA TX-UK
Furnished Holiday Accomodation
The same rules for the application of the cash basis apply also to FHA, so the taxpayer may choose to use the accruals basis and if cash receipts exceed 150,000 MUST use the accruals basis
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