The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
Where a premium is required under a lease of land which is a short lease (ie not exceeding 50 years), a landlord is treated as receiving, when the lease is granted, an amount of rent (additional to any actual rent) equal to the amount of the premium reduced by one-fiftieth for each complete year, less one, comprised in the duration of the lease. See the Lease premiums guidance note and Simon’s Taxes C2.1218 (subscription sensitive).
When the short lease is granted out of a freehold or long lease, having (at the time of the granting of the short lease) a duration exceedi
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