Andrew owns a dwelling which he lets to tenants. Rent is payable quarterly in advance on 1
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Andrew owns a dwelling which he lets to tenants. Rent is payable quarterly in advance on 1 January, 1 April, 1 July and 1 October. The rent was £8,000 per annum until it was increased to £8,800 per annum with effect from 1 January 2023. Rents received by Andrew during 2022-23 were as follows:
£
2 July 2022 2,000 30 September 2022 2,000 3 January 2023 2,200
———
6,200
———
Andrew did not receive the rent due on 1 April 2023 until 6 April 2023. Compute his property income for 2022-23, assuming that the only expenditure incurred during the year comprised repairs and insurances of £1,300 and buy-to-let mortgage interest of £4,100.
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