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Lease hold premises is one taken on rental basis form other person based upon an agreement and for a period of time - say 5 years. It is not he asset of user (Lessee). Only a right to use the asset passes to the lessee and ownership stays with the original owner (Lessor). Free hold premises is free of any leasing agreement or contract. The owner and user is the same person, and the right to use and ownership lies with one person only i.e. the owner. Presentation of both the above in financial statements is different. Only owner can claim depreciation on the leased premises (being the owner) and lessee can claim the lease rent paid by him for income tax purpose.
What else can I help you with?
What are the difference between interest free and conventional banking system?
difference between interest and interest free financing
Is free hold premises debit or credit?
yes
What is the difference between public and private sector organisations?
Public sector uses public tax dollar and is not subject to the free market
Difference between MT950 and MT940?
In a nutshell the MT940 message has an optional (86) tag that allows for 6 "lines" of free form text related to the specific detail line that is reported.
Which financial institution offers free blank lease agreements?
Banks do not generally have these types of forms. Office supply stores such as Staples and Office Depot have blank lease agreements in their forms section. There are several different types to choose from depending on the information you wish to have the other party agree to.
What are the difference between interest free and conventional banking system?
difference between interest and interest free financing
What is the difference between free will and destiny?
You can change free will
The difference between free enterprise and laissez faire?
There is no difference.
What is the difference between free blubster and upgrade?
one is pro and one is free
Difference between alcohal-free perfume?
there is no alcohal in it
Is free hold premises debit or credit?
yes
What is the difference between the free and the full version of terraria?
There is no free version. You have to buy it to play it.
Is there a difference between a free and a paid forex course?
In a lot of cases there is not a difference between them. I would personally advise take a free forex course as you can learn just as much.
What is the difference between Free trade and protection from trade?
the answer is banana
What is the difference between economic and free goods?
The difference between free and economic goods is the fact that, free goods don't cost us anything to be able to have and economic goods cost us to be able to get that service or good.
What is the difference between organic and free range chickens?
There is no difference except the words you use to describe them.
What is the difference between free and paid clip art for Christmas?
There is no real difference between free and paid clip art for Christmas. The only difference is that there is a lot more variety for paid clip art. There are better quality images.
