Landlords premium composition

Lease premium assessment

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My aunt Fanny has approached me. On 1st July she let premises at a rent of  £6000 per annum and for a lease premium of a consideration of  £60000.for 20 years.

I have told her her fiscal assessment will be 9/12 of 6000 which is 4500. Further she will be assessed on a portion of the premium as follows 

Consideration                   60000

Less  19 x 2/100 60000 =  22800

Assessable                          37200.

Total assessment                41700

She said ' what about the balance of the premium  £22800

I said ' I will ask my fiscal thinkers about this on the forum.  My fiscal neurons have gone blank."

Replies (3)

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By Ruddles
07th Nov 2018 20:56

Can your tutor not help you with your homework?

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Replying to Ruddles:
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By Mrbailey
11th Nov 2018 11:37

Ruddles

Is the amount regarded as capital item. When does the sum come into play.

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Replying to Mrbailey:
By Ruddles
11th Nov 2018 12:45

Ask your tutor

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