Vacancy allowance reduces actual rent to determine gross annual value when a let property is vacant during the year. Where a property or part of it is let but vacant for the whole or part of the previous year, if actual rent received or receivable is less than reasonable ... Summary
Vacancy allowance reduces actual rent to determine gross annual value when a let property is vacant during the year.
Where a property or part of it is let but vacant for the whole or part of the previous year, if actual rent received or receivable is less than reasonable expected rent due to vacancy, the actual rent received or receivable, reduced by the vacant allowance, shall be treated as the gross annual value of the property.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
