Rent on shop which has ceased trading - can this be put on self assessments

Rent on shop which has ceased trading - can...

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Hi

I am doing my dads self assessment.  He did have a betting shop that has ceased trading which was under a Ltd company.

He has been paying the lease from his own pockets since August 2009 @ £500 per month = £10.5k.  Is this an allowable tax expenses for his self assessment and is it ok to back date this to when he originally started trading?

Thanks Laura

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PAH Accounting Devizes Wiltshire
By Phil Hendy
05th Apr 2011 15:11

Who is the lease with

 What is the nature of the contract with the leaseholder? 

If the lease is between the company and the lessor then your Dad should not be personally paying it, unless there is any personal guarantee in place.

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By simpleaccounting
05th Apr 2011 15:23

repsonse

Hi

Its a very complicated lease.  My dad lives above the shop.... but the shop is two houses and my dad owns half....

Thanks

 

laura

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