Rent paid as Lump sum
08/08/1997
Query
Whether rent paid as an up-front lump sum is taxable in year of receipt
Decision
On the basis that the up-front payment represents a single payment of rent, it is taxable in the year in which it is received. A trader making such a payment would be required to spread it in accordance with the matching principle in preparing accounts
Income Tax
Section 75, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT972009