Part 6 Trading Income
Corporation Tax Act 2009 (2009 c 4) | Legislation

Part 6 Trading Income

.Ìý.Ìý.

16

.Ìý.Ìý.

17

.Ìý.Ìý.

Tenants under taxed leases

18

(1)     This paragraph relates to the operation of sections 62 to 67 where, in respect of a lease—

(a)     there is a receipt of a Schedule A business or an overseas property business (within the meaning of section 65A(4) or 70A(4) of ICTA) as a result of section 34 or 35 of ICTA (treatment of premiums etc as rent and assignments for profit of lease granted at an undervalue) for a tax year before the tax year 2005–06 or an accounting period ending before 1 April 2009, or

(b)     there would be such a receipt, but for the operation of section 37(2) or (3) of ICTA (reductions in certain receipts under section 34 or 35 of ICTA).

In this paragraph and paragraphs 19 and 20 a receipt falling within paragraph (a) or (b) is referred to as an “ICTA pre-commencement receiptâ€.

(2)     For the purposes of sections 62 to 67—

(a)     the lease is treated as a taxed lease, and

(b)     the ICTA pre-commencement receipt is treated as a taxed receipt.

(3)     For the purposes of those sections,

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Directors’ remuneration

Directors’ remunerationCompany directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their

LEXISNEXIS

Specific performance of property agreements

If a party to a property agreement fails to comply with its obligations, the other party may wish to apply for an order for specific performance. Specific performance is an equitable, discretionary remedy which, if granted, compels a party to perform a contractual obligation. This Practice Note

LEXISNEXIS

Public inquiry procedure

Public inquiry procedureThe procedure by which a public inquiry is conducted will vary significantly from one inquiry to the next. Even for inquiries established under the Inquiries Act 2005 (IA 2005), the associated inquiry rules are not particularly prescriptive as to how they ought to be

LEXISNEXIS

Tort—the different types of tort

Tort—the different types of tortThis Practice Note identifies the main torts (bar negligence and nuisance, which are covered elsewhere in our related content) and their key characteristics. Specifically:•trespass to land•trespass to the person•privacy/defamation•liability for animals•employers'