This article, "Key money paid to land lord to obtain a lease," originally appeared on AccountingWeb.com.
Please can I ask for some guidance for how to deal with below situations.
My client has leased a business premises from a landlord . To get the premises he had paid Key money of £15,000. Can we treat this as Goodwill? Can we deduct as expenses to claim Corporation tax relief? Appreciate any guidance/advice please.