My clients y/e is 31/12/12. He pays rent on his office. year to 31//12/13 rent = £3690, year to 31/12/14 rent = £3813, year to 31/12/15 the lease expires on 27/09/15, rent for the 9 mths to 27/09/15 is £2600. (Per lease years - Year 1=3650, Year 2=£3770, Year 3= 3900) How do I disclose this? (FRSSE/small ltd co). Thank you
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For operating lease commitments you are required to disclose the payments you are committed to make in the following year and then analyse them between those that expire in < 1 year, 1-5 years and > 5 years. So in your example disclose £3690 as due to expire within 1-5 years. Just ensure the lease doesn't have any break clauses within it before expiry on 27/09/15.