In 2017-18, Peter is granted a 12 -year lease on a property, paying a premium of 40,000
Question:
In 2017-18, Peter is granted a 12 -year lease on a property, paying a premium of £40,000 to his landlord. He immediately grants a 4 -year sub-lease to Paula, receiving a premium of £14,000. Calculate the income tax assessment on the premium received by Peter.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Income tax assessment on property rental income in the UK is based on your tax band That is how much income tax would be due directly depends on the t...View the full answer
Answered By
Tamil Elakkiya Rajendran
I'm currently involved in the research in the field of Biothermodynamics, Metabolic pathway analysis and computational Biology. I always prefer to share my knowledge whatever I have learnt through my degree whenever time permits.
2+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
