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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Kaplan 2014 book Property Income question
In the Kaplan book Q&A at the back question 3 has 4 scenarios with various properties. In the book it states that Interest on buying a property is an allowable expense and also R&M both before purchasing the property and during. However in the answers they don’t allow these costs. Tehy don’t even allow repairing a window for £100.00 – any ideas why they wouldn’t allow these?
Many Thanks
I’m afraid I don’t have the Kaplan text from which you quote but interest payable by an individual on a let property is allowable as are repair & maintenance costs incurred prior to letting – clearly they wouldn’t be incurred prior to purchase!