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On page 22 of F6 Notes, Example 4 of ‘Lease premiums on grant of short lease’:
‘Qustion: Bill grants Richard a lease to a shop on 30 June 2014,
Annual rent £5,000 due on 1 July 2014,
Term: 20 years, Premium: £60,000,
Calculate the Property Income assessment for Bill in 2014/15.
Answer: Premium (51-20)/50*60,000 =37,200,
Rent 9/12*5,000 =3,750,
Property Income =37,200+3,750 =40,950’.My question is on ‘Rent 9/12*5,000 =3,750’, rent start from July, so why the period is 9 months, not 6 (July~Dec)?
Thanks!ok, easy question.
The tax year 2014/15 runs from April 6 2014 to April 5 2015.
so for 2014/15 is just from July to April, 9 months.
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