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Invoiced last year, paying this year - which year do I include the bill in my self-assessment?
tarves57
Posts: 44 Forumite
in Cutting tax
I own and rent out a flat which is in a block of six, 2 of these flats belong to the council who decided the roof was in total disrepair and renewed the whole thing.
They sent me the bill for my share in March, but sent it to the flat itself, not my home address, so wasn't aware until May when I received a "final reminder".
Anyway, I am paying the bill in installments starting June.
My question is, when doing my self-assessment online, does this come off last year's rental income or this year's?
Any help appreciated...
0
Comments
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Unless you have specifically elected otherwise, rental income is assessed on the cash basis, so you claim expenses when you pay them.2
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Thank you Jeremy535897!0
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