Income Tax (Trading and Other Income) Act 2005 section 344

Charge to tax on rent receivable for a UK electric-line wayleave

Section 344 establishes that income tax is charged on rent received for granting a UK electric-line wayleave.

  • Rent received for allowing electricity cables or lines to cross your land in the UK is subject to income tax.
  • This applies specifically to payments described as rent for electric-line wayleaves.
  • The charge applies to UK wayleaves only.
  • This provision originated from the earlier rules in section 120 of the Income and Corporation Taxes Act 1988.

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