Your company's assets and liabilities are reported on its balance sheet. Assets go on one side of the sheet, liabilities on the other. The difference between them is the owners' equity in the company -- what the owners would take away if they sold all those assets and paid off all those debts.
Key Points. For all residential premises, whether houses or flats, a landlord may, depending on the circumstances, be liable to be prosecuted if anyone such as a tenant, resident, workman or visitor, is put at risk of being exposed to asbestos or is actually exposed to it.
Council Tax liability. Who is liable to pay Council Tax depends on who is highest on the hierarchy of legal interest. This normally means that where tenants are issued with a secure joint tenancy agreement for the entire property, they would be furthest up the hierarchy and therefore liable to pay the Council Tax.here tenants hold individual tenancy agreements or licences to occupy a property, the owner becomes liable for the Council Tax as the property is classed as a â house in multiple occupation ' (HMO).