Lease Premiums

Last modified 10:20, 23 Oct 2015

Overview

This is for lease premiums related to land and property only.  Use this window to claim tax relief for lease premiums paid and for tax adjustments for lease premiums received.

Data Entry

Data should be entered as follows:

  • Description    An entry should be made for each lease
  • Date Granted    This refers to the commencement date of the lease
  • End date    This refers to the cessation date of the lease
  • Premium    This is to show the amount of any Premium paid or received on granting of the lease
  • Landlord/tenant    This signifies if the lease has been granted as either the Landlord or the Tenant. The option to choose Landlord is only available when the trade is either a UK Property or Overseas Property Business.
  • Taxed receipt    This is automatically calculated for each Accounting Period (where there are multiple Accounting Periods) and is completed when the lease has been granted as a Landlord
  • Allowable expense    This is automatically calculated for each Accounting Period (where there are multiple Accounting Periods) and is completed when the lease has been granted as a tenant

Notes

  1. Lease premiums received as a landlord are only available for a UK property or Overseas Property business.
  2. Notes can be added to this window. All notes will appear as an appendix to the Corporate Tax computation. Click the click to add notes link at the foot of the data entry area

 

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