Corporation Tax Act 2009 section 291

Meaning of "lease" and "premises"

Section 291 defines two key terms — "lease" and "premises" — used throughout the rules on property income in this Part of the Act.

• A "lease" includes not only a formal lease but also an agreement for a lease and any tenancy
• A mortgage is specifically excluded from the definition of a lease
• "Premises" is given a broad meaning that includes land itself, not just buildings
• These definitions apply consistently across the whole of this Part of the Corporation Tax Act 2009