Corporation Tax Act 2010 section 846

Lease and rent

Section 846 defines the terms "lease" and "rent" broadly for the purposes of the chapter dealing with sales of land with a right to reconveyance.

• A "lease" includes not only standard leases but also underleases, subleases, tenancies, licences, agreements for any of these, and equivalent interests in land outside the United Kingdom.
• "Rent" means any payment made under a lease, not just periodic rental payments in the traditional sense.
• "Rent under a lease" also includes deemed expenses that a tenant is treated as incurring in respect of leased land under the CTA 2009 rules for trade premises and taxed lease premiums.
• Any such deemed expenses are treated as having been paid at the point they were incurred, ensuring they are brought into account on the same timing basis as actual rent payments.