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Tenancy Deposit Scheme treatment

This topic has 1 reply, 2 voices, and was last updated 4 years ago by Tax Tutor.

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May 3, 2021 at 2:37 am #619486
sardonis
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I was wondering what will be the treatment of so called bond/deposit paid to a landlord. It is an obligation now for a landlord to pay such a money to an approved TDP. Is such a money still treated as a rental income or is completely excluded from income calculations ? Thank you again
May 4, 2021 at 12:56 pm #619642
Tax Tutor
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A security deposit paid by a new tenant will not be treated as property income until such time that the property owner becomes legally entitled to use that money under the terms of the deposit.
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