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Buy the freehold of 'my' lease

LTD Co client looking at buying the freehold of their trading premises which they occupy under a lease from a non related party [ a FTSE co ]

they paid a premium for the lease - and are amortising this

if they do acquire the freehold within the same entity, presumably they will Cancel the lease [ tax implications ] and have to w/off the balance on the premium account

tax implications of this proposal - or at least a heads up + comments would be appreciated.

any other issues to consider ?

have agood weekend all !

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25th Jun 2010 16:21

I will answer this on Monday

if the All Blacks lose tomorrow.

 

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