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Hello. In last course note in practise question 7 Peter insurance paid for year end 31/05/2015 but we start letting on 01.06.2016 is it ok?
Hi Elmir and thank you for your feedback regarding the questions and pointing out some updating errors with the typing!
Q.7 The properties were acquired on 1 June 2015 and the insurance should have stated for the year ended 31 May 2016 (ie from 1 June 2015). The letting however started from 1 July 2015 – not 1 June 2016.
Q.24 The previous year was of course 31 March 2015 – not 2014.
Q.37 The question asks for the chargeable gain on the disposal NOT the taxable gains for the year, hence no deduction of AEA
Hope this helps and apologies for any confusion caused
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