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One of my clients rents space in a big department store that sells clothes as a shop-in-shop arrangement. My client’s business is mainly the sale of women’s clothing and she is registered for VAT. The store owners have decided to rebrand the store to produce a more up-market image which it feels is necessary following the Covid-19 crisis to set itself apart from the competition. This will also benefit my client by producing more sales. However it is going to cost my client £90 000 plus VAT to revamp her own signage and branding in the store with changes also needed to the way that stock is laid out on shelves.
To help with the costs incurred by my client the store has agreed to reduce permanently her rent by £10 000 each year. The lease expires in five years’ time so this is...
