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Period of tax calculation

SSam10y ago
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!
SSam10y ago#1
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.
TTTax Tutor10y ago#2
Very pleased you have answered your own question!
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