Susan is granted a 20 -year lease on a property, paying a premium of 76, 000. Explain

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Susan is granted a 20 -year lease on a property, paying a premium of £76, 000. Explain how tax relief will be given in relation to this premium if:

(a) she uses the property for trading purposes, or

(b) she grants a sub-lease to Timothy for five years, receiving a premium of:

(i) £25,000 (ii) £10,000 (assume that the cash basis does not apply).

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Taxation Finance Act 2017

ISBN: 9781292200804

23rd Edition

Authors: Alan Melville

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Question Posted: Feb 06, 2024 05:00 AM

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Susan is granted a 20 -year lease on a property, paying a premium of 76, 000. Explain

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a The amount assessable to income tax on Susans landlord is 47120 76000 less ...View the full answer

Taxation Finance Act 2017

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