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Property Income

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Property Income

  • This topic has 2 replies, 2 voices, and was last updated 3 months ago by JillyB.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • June 4, 2023 at 11:37 am #685973
    Katherine33
    Participant
    • Topics: 6
    • Replies: 5
    • ☆

    Hi can you please explain how the old lease is calculated!

    (1) House number 1 (unfurnished)

    A lease at an annual rental of £4,500 (paid monthly in advance on the first day of the month)
    ended on 30 June 2021. The house was then unoccupied until 31 December 2021. Between these
    dates it was redecorated internally at a cost of £2,000. It was re?let from 1 January 2022, with the
    annual rent of £5,000 being paid in full on that date.

    What is the net taxable property income for the tax year 2021/22 for house number 1,
    to the nearest £?

    June 5, 2023 at 5:53 am #686013
    Katherine33
    Participant
    • Topics: 6
    • Replies: 5
    • ☆

    Hi we have exams tomorrow and i would really appreciate a reply!. Thank you so much!

    June 5, 2023 at 9:47 am #686034
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 428
    • ☆☆☆

    You work out when a payment was received and add up the total.

  • Author
    Posts
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