Part 2 New Section 37A of TCGA 1992
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

Part 2 New Section 37A of TCGA 1992

6

TCGA 1992 is amended as follows.

7

After section 37 insert—

“37A Consideration on disposal of certain leases

(1)     This section applies if—

(a)     a disposal occurs that is within section 614BP of ITA 2007 (including that section as it has effect as a result of section 614CD of that Act), and

(b)     for the purposes of Chapter 2 or 3 of Part 11A of that Act there is any cumulative accountancy rental excess in relation to the lease for the period of account of the current lessor in which the disposal takes place.

(2)     This section also applies if—

(a)     a disposal occurs that is within section 915 of CTA 2010

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