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(i) property A: a leasehold office block with 25 years’ unexpired tenure at 1 June 2014. The property is sublet on a five year lease at commercial rates to a shipping company.
(ii)Property B: a freehold cottage, originally purchased to provide assistance to employees, which is now let commercially to tenants who have no connection with the company.
among these 2 which property is IAS16 or IAS40
I’m not 100% sure that you can hold investment property through an operating lease. Certainly you can through a finance lease. So the answer to the first is its probably IAS 16
The cottage looks to me like IAS 40. Is it available now – I fancy a quiet weekend away?
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