PCT pass exam 2009 dec
meibaker
Registered Posts: 481 Dedicated contributor 🦉
Peter bought this in November 2005 for £180,000 as a rental property. He never managed to rent it out, so he sold it for £250,000 on 1 February 2009.
so what's the chargeable gain or loss, if any, made on the disposal
please some one tells me why last 3 years are not deemed occupation?? thank you1
This unfurnished house is rented out for £800 per month. The property was occupied until 1 December when the tenants suddenly moved out, owing the rent for October and November. Peter knows he will not recover this rent. The property was let again from 1 March to another family
how come answer used 7 months?? it should be 6 months? can't i count now?? from april to sep is 6 months??
so what's the chargeable gain or loss, if any, made on the disposal
please some one tells me why last 3 years are not deemed occupation?? thank you1
This unfurnished house is rented out for £800 per month. The property was occupied until 1 December when the tenants suddenly moved out, owing the rent for October and November. Peter knows he will not recover this rent. The property was let again from 1 March to another family
how come answer used 7 months?? it should be 6 months? can't i count now?? from april to sep is 6 months??
0
Comments
-
There is no 3 year deemed occupation because it was bought as a rental property and was not his PPR at any point.
I'm not sure about the second one as I don't have the paper in front of me0 -
April - 1st Dec is 8 months. Then 1 month for March. Take away the two months of irrecoverable rent.
8 + 1 - 2 = 7
He didn't actually live in the bungalow so can't get the last three years off as it wasn't a PPR.0 -
We actually had this one in class. We were baffled by that too.
Its actually 9 months and you take off the 2 months October and November that wont be recovered. Think you count December Jan and Feb. That gives you the 9.
Quite confusing.0 -
ahh, i see, thank you everyone! didn't count the march month!0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 319 NEW! Qualifications 2022
- 157 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 92 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 274 Tax
- 136 Bookkeeping
- 7.2K General accounting discussion
- 201 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership