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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 7379
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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We have received a surrender premium and dilapidation payment

Customer Question

We have received a surrender premium and dilapidation payment from a tenant and want to know the VAT treatment as well as the Corporation Tax/Capital gains tax treatment
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello. I am Keith, one of the experts on Just Answer, and happy to be able to help you with your question. firstly, forget about Capital Gains Tax, all these matters are outside the scope of that tax. These transactions are all part of your trading account. One point though, have you been charging VAT on the rentals? Once I know this I can advise you more fully.