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.
- Entertaining - am I missing something or is my client taking the mickey 663 6
- Cost of demolition of a shed - revenue or capital? 691 19
- Sage Priority Support 95 2
- incorrect old p60 125 1
- HMRC interview re client authorisation 486 4
- VAT on new builds 118 2
- Becoming a subcontractor to Accountancy Practices 347 2
- Rental business through company without owning the property? 125 1
- Pensions Auto-Enrolment when no computer/internet access 118 1
- Bank Interest Held by Solicitor During Divorce 138 1
- Are accountants facing a doomsday scenario? 1,844 26
- Missing tax return 180 2
- Are you going to Tick and Bash on 21 May? 920 24
- CG on Spanish property disposal 276 8
- SSAS Pension scheme 165 2
- Quick Income tax calculation question! 557 18
- Physiotherapy 246 3
- Inflation and fees 1,219 20
- Capital allowances not claimed 170 3
- Changing shareholding ratio 284 8