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.
- directors loan 238 7
- Is there no lower level to the work a lawyer would take on. 808 27
- Director registration for SA question 246 11
- How do you pay Inheritance Tax when HMRC haven't demanded it 209 3
- New Company reviews please 452 12
- Business only use of company car 601 23
- Holiday pay calculator for client use? 335 4
- CIS not deducted 298 5
- Tax on LLP members drawings not covered by future profits 370 14
- Car Capital Contribution 180 2
- cgt quoted shares losses 197 1
- LLP and corporate members - timing differences impact on corp tax 78 2
- VAT FRS percentage for sales person? 207 3
- Money Laundering Manual 256 10
- As I was saying, Its VAT question day 351 8
- VAT with Russia 117 1
- Scientist switch to accountancy - work experience? 1,036 28
- Penalties for late PAYE scheme 201 2
- Worst corporate entertaining events? 1,150 9
- CGT on Let Property 234 4
- RTI Rollback to delete incorrect data 278
- Motor Traders Assistant Bookkeeping Programme queries 235
- Vouchedfor.co.uk 234
- Tracesmart/Lexis Nexis AML software? Any opinions? 208
- Any thoughts on Capium? 194
- Expenses Software 189
- auto enrolment 175
- Sage Compatible P60's Self Seal 168
- How to account for investment in JV? 146
- Continuity of practice-ACCA 145