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  1. Gockie

    6 months rent payment up front - in which tax year is it deemed as income?

    I spoke with tax accountants today and they said if I was a real estate agent I could prorate the payment. But as this is not my main source of income, I'd have to declare it when I receive it. So I've arranged for the tenant to pay me the first 6 weeks of rent now, the remainder at the...
  2. Gockie

    6 months rent payment up front - in which tax year is it deemed as income?

    Btw he gave two more referrees too.... he's just finding it very tough to get a furnished rental.
  3. Gockie

    6 months rent payment up front - in which tax year is it deemed as income?

    His former landlord is a very trustworthy Somersofter.... that somersofter was happy to recommend him. His brother is a lawyer and he was happy to have him as a referree. I think it's fine plus he put in an extremely detailed application and sent photos of his passport and licence.
  4. Gockie

    6 months rent payment up front - in which tax year is it deemed as income?

    A bit of background, I am a private landlord, and will lodge the bond properly, and do the normal rental tenancy paperwork and documentation. The potential tenant offered to pay me the 6 months rent upfront without any prompting from me. Seeing his application, I decided I would like to have him...
  5. Gockie

    6 months rent payment up front - in which tax year is it deemed as income?

    Hi, I have a potential tenant who said he'd be willing to pay the full rent for 6 months upfront. :D Blame that on a tight rental market. The rental's going to start in the second half of May. If I collect that full amount this tax year, do I have to declare the whole amount as income for this...
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