Hi Folks
The people here were a lifesaver a few years ago with regard to CGT so I am hoping for some similar advice with this one.
We have a commercial lease for our business that expires in 2 years. The landlord wishes us to exit 12 months early and will be providing us an incentive payment to do so. This will be approx 50% of rent, not including extras such as council, water and land tax rates which we will pay in full.
Our accountant suggests this will trigger a CGT, which for us means payment as we have no losses to offset. I have done some research but am simply unable to work this out.
Can anyone help?
The people here were a lifesaver a few years ago with regard to CGT so I am hoping for some similar advice with this one.
We have a commercial lease for our business that expires in 2 years. The landlord wishes us to exit 12 months early and will be providing us an incentive payment to do so. This will be approx 50% of rent, not including extras such as council, water and land tax rates which we will pay in full.
Our accountant suggests this will trigger a CGT, which for us means payment as we have no losses to offset. I have done some research but am simply unable to work this out.
Can anyone help?