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What is a Premium Lease? A Premium Lease is a residential lease whereby a company purchases an irrevocable right to occupy the premises by payment of a one-off lump sum or premium on commencement. The UK Government has announced a measure to prevent tax avoidance where an employee or director of a company is provided with living accommodation through the payment of a lease premium rather than a full market rent for the use of the property. As from 22 April 2009 those who take out new leases using a lease premium will pay tax and National insurance contributions as if the full market rent had been paid. -- Press Notice 3 HM Treasury
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