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Property Business income

Forums › ACCA Forums › ACCA TX Taxation Forums › Property Business income

  • This topic has 2 replies, 2 voices, and was last updated 1 week ago by sarbrina.
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  • May 20, 2023 at 2:15 pm #684728
    sarbrina
    Participant
    • Topics: 27
    • Replies: 60
    • ☆☆

    Hi. i asked 2 other questions on the forums but i unfortunately didnt get a response. Im hoping to get one for this question because i desperately need an explanation. This is a section C question from the revision kit. Please explain how to calculate the rent received aspect of this question and why the rent is multiplied by 1/3.

    E – commerce pie has claimed a deduction for repairs of £95,300 in respect of awarehouse which was purchased on 21 May 2021. The warehouse was purchased in a dilapidated state, and could not be let until the repairs were carried out. This fact was represented by a reduced purchase price. The property was first let out on 1 July 2021.

    E-Commerce pie did not receive the rent due of £16,200 in respect of this warehouse for the quarter ended 31 May 2022 until 1 April 2022. None of this amount has been taken into account in calculating the property business profit for the year ended 31 March 2022.

    Property income -156,700

    Please assist me with this question!

    May 20, 2023 at 2:29 pm #684729
    Anonymous
    Inactive
    • Topics: 3
    • Replies: 16
    • ☆

    If you really need a tutor response, please use the ‘Ask the Tutor’ forum for this exam! This forum is for students to help each other with regards to the TX exam on here!

    May 20, 2023 at 3:49 pm #684736
    sarbrina
    Participant
    • Topics: 27
    • Replies: 60
    • ☆☆

    Hi thanks for letting me know but this is a tax question!

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