tax treatment of a lease on a pub
Have a client who has paid £25k for 10 years remaining on a pub lease from the brewery as well as paying a monthly rental.
Was going to capitalise the lease and write off over 10 years at £2.5k per year.
But how is the £25k paid treated from a tax viewpoint? What tax relief do they get if any and when do they get it?
Have looked around various references but cant find the answer.
PS happy crimbo.
- Non-Resident Director - UK Tax Position? 402 4
- Employment support allowance and self employed 133 3
- Company pays me the mileage rate of a company vehicle 107 1
- Registered Office 158 3
- PAYE coding notice - deliberate misstatement 1,487 23
- recovery of S455 on informal winding 314 5
- Partnership Registration 114 2
- Can you declare dividends and not withdraw them 909 36
- Owners loan to business - is interest taxable 117 2
- Would this save hours of your time? 693 12
- Audit Required 1,187 22
- HMRC to sell our tax data to private companies 313 9
- Residential Management Companies 97 2
- Value pricing 2,862 37
- Problems with CT600 filing 401 5
- Flat rate scheme - which rate to use? 397 11
- Payroll software for Mac 124 1
- Online / Cloud Data Back Up 124 2
- Excel problem - pivot tables and multiple data sources 218 5
- CIS and Close Company 209 6
- Residential Property Purchase Above £750K 947
- Using Sage with Sofa Categories 661
- Understanding the implications of January 2015 VAT changes for downloads on threshold for VAT registration 404
- transferring simply accounting 2010 from xp to windows 7 334
- rent-a-room allowance for part of the year 263
- Paye procedures for CVA 252
- HMRC Second Income Campaign - not so much a question as heads up 251
- Expenses Re-imbursed on the VAT Flat Rate Scheme 201
- Compliance Checks - Time limits 194
- Pension Fixed Protection 189