Notice 742, para. 2.5 (2012 edn) states that an exempt licence to occupy land is created if the following conditions are met:

(1)the licence is granted in return for a consideration paid by the licensee;

(2)the licence to occupy must be of a specified piece of land, even if the licence allows the licensor to change the exact area occupied, such as to move licensee from the third to fourth floor;

(3)the licence is for the occupation of the land by the licensee;

(4)another person’s right to enter the specified land does not impinge upon the occupational rights of the licensee; and either:

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

Existing subscriber? Log in

No subscription?

Contact us to discuss your requirements.