TXF6 UK

MC Question 5

Since 6 April 2014, Nicolas has let out an unfurnished freehold office building. On that date, the tenant paid Nicolas a premium of £82,000 for the grant of a 15-year lease.

How much of the premium of £82,000 will Nicolas include when calculating his property business profit for the tax year 2014–15?

A. £59,040
B. £22,960
C. £82,000
D. £5,467

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