Corporation Tax Act 2010 section 877

Sum obtained in respect of interest

Section 877 defines what is meant by "a sum obtained in respect of an interest in an asset" for the purposes of this Chapter, covering the various forms such a sum may take.

• The section applies to any type of interest in an asset, whether it is the lessee's interest in a lease, the lessor's interest, or any other interest
• Insurance money received in connection with the interest counts as a sum obtained in respect of that interest
• Amounts representing money or money's worth received from disposing of the interest are also included, whether through a single transaction or a series of transactions
• The definition ensures that all forms of value received for an interest are captured, not just straightforward cash payments