Simon owns an apartment which he lets to tenants. The apartment was let throughout tax year 2017-18

Question:

Simon owns an apartment which he lets to tenants. The apartment was let throughout tax year 2017-18 at a weekly rental of £320. The expenses incurred by Simon in relation to this apartment during 2017-18 were as follows:

image text in transcribed

The new refrigerator is very similar in all respects to the old one which was provided at a cost of £270 several years previously and has now been scrapped. Costs of £10 were incurred in order to transport the old refrigerator to the local recycling centre.
Compute Simon's property income for 2017-18 and explain how this computation would differ if the tax year concerned was 2018-19 instead of 2017-18.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: