Income Tax (Trading and Other Income) Act 2005 section 303

Rules for determining effective duration of lease

Section 303 sets out three rules for determining the effective duration of a lease for the purposes of taxing lease premiums, recognising that the real length of a lease may differ from the term stated in the lease document.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.