exam

Q8 Section A

Modal Ltd lets out an unfurnished investment property.

During the year ended 31 December 2015, the company received rental income of £3,000 per month and paid electricity (relating to the rental property) of £200 per month. The electricity payment for December 2015 was not paid until 30 January 2016.

Modal Ltd also paid interest of £1,200 per month on a loan taken out to finance the purchase of the rental property.

What amount of property business income will be included in Modal Ltd's corporation tax computation for the year ended 31 December 2015?

Pick 1 option

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