Julia has property income of £80,000 for the tax year 2021-22. This is before any deduction in respect of £10,000 of interest on loans used to acquire the properties. All of Julia's properties are qualifying furnished holiday lettings. What is Julia's property income and the amount of her finance cost tax reducer for the tax year 2021-227 Amount Property income Finance cost tax reducer £0 £1,000 £2,000 £70,000 £78,000 £80,000

Julia has property income of £80,000 for the tax year 2021-22. This is before any deduction in respect of £10,000 of interest on loans used to acquire the properties. All of Julia's properties are qualifying furnished holiday lettings. What is Julia's property income and the amount of her finance cost tax reducer for the tax year 2021-227 Amount Property income Finance cost tax reducer £0 £1,000 £2,000 £70,000 £78,000 £80,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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