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Legislation
Income Tax (Trading and Other Income) Act 2005

Crossheading Deductions for expenditure on sea walls

  • Section 315 Deduction for expenditure on sea walls
  • Section 316 Transfer of interest in premises
  • Section 317 Ending of lease of premises
  • Section 318 Transfer involving company within the charge to corporation tax
  1. Deductions for expenditure on sea walls
  2. Ending of lease of premises

Section 317 | Ending of lease of premises

From legislation.gov.uk

(1)If a person's interest in the premises is a lease that comes to an end before the end of the deduction period, the interest is treated as if transferred to the following persons.

(2)If a new lease of the premises is granted and the new tenant makes a payment in respect of the embankment in question to the old tenant, the transferee is the new tenant.

(3)Otherwise the transferee is the owner of the interest in immediate reversion on the lease (or, in Scotland, the landlord).

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