Commentary

B6.301 Introduction—the basic rule

Business tax
Business tax | Commentary

B6.301 Introduction—the basic rule

Business tax | Commentary

Division B6.3     Lease premiums etc

Divisions B6.3 prepared by
KEITH GORDON,

MA (Oxon), ACA, CTA

Barrister, Atlas Chambers

For updates affecting this Division please see Part B0 Updates

Lease premiums

B6.301 Introduction—the basic rule

Lease premiums are amounts paid by incoming tenants in consideration for the grant of the lease. They are generally accompanied by a corresponding reduction in the rent paid during the term of the lease. Without special provisions, such payments would allow the recipient to convert income into a capital receipt. ITTOIA 2005, ss 276–307 (Pt 3, Ch 4) and CTA 2009, ss 215–247 (Pt 4, Ch 4) provide that lease

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