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The Lease Duty Trap

Philip Martin, Senior Tax Manager, Marks & Spencer, discusses the recent consultation process on lease duty and its outcome

 
Philip Martin Senior Tax Manager Marks & Spencer discusses the recent consultation process on lease duty and its outcome
 
The summer of 2003 saw the phenomenon of flash mobbing where a group of people congregate at a designated spot perform some inexplicable task and then disperse none the wiser as to what they have done. The Inland Revenue was quick to join in the fun inviting taxpayers to participate in its consultation meetings on lease duty.
Lease duty — the old and new rules
 
Lease duty on the grant of a new lease...

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