Property Lease
Options
freddie123
Registered Posts: 3
in Tax
I wonder if someone could help me please? My client has bought a shop lease for £120,000 for 20 years and pays rent each month. I know how to deal with the rent but how do I account for the lease? He has used a mix of personal money and loans to buy it? Thanks in advance.
0
Comments
-
It should be treated as a fixed asset with an initial value of £120k. The lease could be written down over a period of 20 years.0
-
Lovely thank you.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.4K For AAT students
- 264 NEW! Qualifications 2022
- 144 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 45 AAT Level 3 Diploma in Accounting
- 66 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 268 VAT
- 90 Software
- 271 Tax
- 133 Bookkeeping
- 7.1K General accounting discussion
- 195 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 578 Job postings
- 16 Who can benefit from AAT?
- 35 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership