Interest on Investment Property with interest date not aligned with end of month.

Question

 · Accepted Answer

KevColl · Answer

Interest is usually claimed in the month that it is charged. Interest claimed would be from the July 2022 to June 2023 Statements. The interest on the July 2023 statement would be claimed i8n the 2023-2024 tax year. The same principle applies to interest as income.

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