In line with the announcement at the Spring Budget 2021, to attract more investment in the economy, the Government introduced a “super deduction”. Investing in plant and machinery is being encouraged by giving enhanced reliefs in the period the expenditure is incurred (i.e. on or after 1 April 2021, but before 1 April 2023).
Due to the global pandemic, dealing with changing property requirements is one of the most significant issues businesses need to resolve, for both landlords and tenants.
In this, our first article on onerous leases, we focus on lease modifications or variations.
In previous articles, we have looked at lease modifications and provisions in respect of future operating lease rentals. In our final article in this series, we look at where a tenant looks to exit a site by assigning or terminating the lease.
Paying tax on income not yet received seems a little unfair, if not rather draconian, especially during a pandemic and the impending global recession.
Following representations from the fund industry, some amendments have been made to the capital gains rules (TCGA SCh5AAA) concerning disposals of UK property by collective investment schemes (CIVs) and their investors.
The standard IFRS 16 on leases is applicable to financial periods current at 1 January 2019. It applies to listed companies, their consolidated subsidiaries and entities presenting their accounts under international financial reporting standards (IFRS).
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