Question
Mark owns a residential property in London. He purchased a house in January 2017 and it was let out furnished throughout the tax year 2021/22
Mark owns a residential property in London. He purchased a house in January 2017 and it was let out furnished throughout the tax year 2021/22 on a monthly rental of 600 payable on the first of each month. Purchased a new dishwasher (he had not previously provided a dishwasher) 550 Maintenance and repairs 700 Replaced old Heater. (The new Heater had the same specifications as the old 400 and the old heater was sold for 50) There were losses from the property for the last year, of 1,000 Required: Assess the total taxable property income for Mark for the tax year 2020/21.
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