[681AD Relevant income tax relief: deduction not to exceed commercial rent]
Income Tax Act 2007 (2007 c 3) | Legislation

[Relief: restriction and carrying forward]

[681AD  Relevant income tax relief: deduction not to exceed commercial rent]

[(1)     The rules in subsection (3) apply to the calculation of the deduction by way of relevant income tax relief allowed in a relevant period—

(a)     for the non-excluded element of the payment within section 681AA(1) or 681AB(1), or

(b)     if there are two or more such payments, for the non-excluded elements of those payments.

(2)     For the purposes of this section—

(a)     in relation to a deduction within section 681AC(1)(a) “relevant period” means—

(i)     a period of account of the trade, profession or vocation concerned,

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