VAT liability - Landlord gifting case
The client
We were contacted by a client who had been given a rent-free period and, interestingly, a crane, by his landlord, all in the hope of encouraging him to surrender his lease and vacate a property earlier.
The client wanted us to work out his VAT liabilities regarding the crane, lease surrender and payment-free period.
Our success
Using our expert knowledge we looked into the case and found that the surrender of the lease was VAT exempt, and that the rent-free period was also outside the scope of VAT payment.
In VAT terms, the crane counts as an additional consideration, and is also exempt.
Talk to us
If you need expert advice on the VAT liabilities around gifting and all kinds of transactions, call our free helping on 0161 477 6600 or send us an email and we will be in touch.
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