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Compute the property pay

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Reference no: EM132915547

Question - Freddie bought a freehold house. The property was then let all through the assessment year at a month to month lease of £1,000 (all lease was gotten in the year). Freddie halfway financed the acquisition of the property with a reimbursement contract, paying home loan interest of £4,000.

The other use on the property added up to £1,300, and this is all suitable.

Freddie has a compensation of £80,000.

(A) Compute the Property pay?

(B) Compute the Income charge Liability?

(C) Compute the Income tax?

Reference no: EM132915547

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