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Rent received from letting surplus business accommodation is strictly assessable as property income. However, in some cases, rents from surplus business accommodation may be included in the calculation of the trading profits if certain conditions are met. These conditions are: the accommodation must be temporarily surplus to current business requirements. S21 of Income Tax (Trading … Continue reading
This is a summary of the support relevant to most of my clients: 1. Coronavirus Business Interruption Loan Scheme (CBILS) Announced on Wednesday, 11 March 2020, this will be administered by lenders that partner with the British Business Bank. The scheme is expected to become available in the week commencing 23 March 2020. The scheme … Continue reading
Phoenix Debola 