Ursula owns a flat which was let to a tenant for the whole of tax year 2017-18
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Ursula owns a flat which was let to a tenant for the whole of tax year 2017-18 at a rental of £200 per week. Her expenditure during the year was as follows:
The new sofa is superior to the sofa it replaced (and which was scrapped). It would have cost only £399 to have bought a new sofa which was equivalent in quality to the old one.
Compute property income for 2017-18 (assuming that the cash basis does not apply ).
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