In 2020-21, Victor rents out a room in his home and receives rents of 8,150. He incurs

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In 2020-21, Victor rents out a room in his home and receives rents of £8,150. He incurs allowable expenses of £820. What "rent-a-room" elections (if any) should he make?

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Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

Question Posted: Feb 10, 2024 01:02 AM

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In 2020-21, Victor rents out a room in his home and receives rents of 8,150. He incurs

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The rentaroom exemption does not apply since gross rents exceed 7500 If Victo...View the full answer

Taxation Finance Act 2020

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