5.1 Andrew owns a house which he lets to tenants. Rent is payable quarterly in advance on...
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5.1 Andrew owns a house 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 2017. Rent received by Andrew during 2016-17 was as follows:
£
2 July 2016 2,000 30 September 2016 2,000 3 January 2017 2,200 6,200 Andrew did not receive the payment due on 1 April 2017 until 7 April 2017. Compute his property income for 2016-17, working to the nearest month and assuming that he incurred no allowable expenditure during the year.
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