- This topic has 1 reply, 2 voices, and was last updated 13 years ago by
.
- Posts
Please could you clarify the practice question 7 on property income, about Peter with two properties.
Regarding only the insurance date, From what is in the question it says, for the year ended 31/5/12.
If this is the actual date then i think only 2 months worth of the insurance is supposed to be related to 2012/13( ie. 6/04/12-31/5/12).But in the answer you used 10 months worth, which then makes me believe the date should have been y/e 31/5/2013, instead of 31/5/2012. That case then it will be 10 months from 1/6/2012-5/4/2013. Thank you, looking forward for the explanation.
Hi Gerald many thanks for your note and picking up an updating error. Clearly with the properties being acquired on 1/06/12 the insurance then paid should indeed be for y/e 31/05/13 and hence 10/12 of those costs relate to the 12/13 tax year as you rightly say! Sadly the dates were not changed in the updating process from last year so apologies and thanks again for your note.
- You must be logged in to reply to this topic.