Simon owns an apartment which he lets to tenants. The apartment was let throughout tax year 2021-22
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Simon owns an apartment which he lets to tenants. The apartment was let throughout tax year 2021-22 and rents received during the year were £16,640. The expenses incurred by Simon in relation to this apartment during 2021-22 were as follows:
The new refrigerator is very similar in all respects to the old one which was provided at a cost of £270 several years previously and has now been scrapped. Costs of £10 were incurred in order to transport the old refrigerator to the local recycling centre.
Compute Simon's property income for 2021-22. Also explain how the computation would differ if Simon had decided to buy a superior refrigerator (costing £575) instead of the one which cost him £325.
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