Help please with PTC

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:28AM in AAT student discussion
Hi im doing june 05 ptc,
the question 1.6 regarding scheduleA income says he rented out a furnished flat from december04 for 1000 a month.

I worked that out as 1000 less 10% wear n tear X 4months to get£3600.

However the answer says :
£1000 less 10% x 4 months x 3 = £10,800


I dont understand why they times it by 3 (i know it makes 12 months but he only rented it for 4months in that tax year)

PLease help

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help please with PTC

    Hi,

    Just had a look at the paper for you.

    It's because he bought 3 flats on 1 December 2004 that's why they multiplied it by 3.

    Best regards
    Steve
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Help please with PTC

    is the 10% not for the agents fee on each flat, i thought you could only deduct the 10% wear and tear if it is furnished?

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