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7. Charlie
Gross rents do not exceed £7500 (52
×
100 = £5,200) and therefore rent a room relief is still available
in 2022/23 so two possible tax treatments may apply:
1.
Normal
calculation
2.
Alternative calculation
Charlie should withdraw the election for 2022/23 so he is allowed a loss of £900 to carry forward
from 2022/23 to 2023/24.
£
Rental income
5,200
less expenses
(6,100)
Property
Income loss
(900)
£
Gross rents
5,200
less rent a room relief
(7,500)
Property Income
Nil
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