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
Ask the Tutor ACCA TX-UK
Tenancy Deposit Scheme treatment
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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