Hi
If someone rents a property and is on accrual basis, does it work the same as VAT accrual basis where you invoice and VAT is liable.
I am assuming this would mean the landlord would have to declare all income based on a tenancy agreement?
Therefore if the property was let out for 6 out of 12 then only 6 months rent will be declared or is it a case of you declare 12 months of income whether rented out or not?
So confused!!
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