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
Replies (2)
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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.