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Taxation (International and Other Provisions) Act 2010 Schedule 7 Part 3
Relocation of provisions on lease premium determinations affecting multiple taxpayers
Schedule 7 Part 3 (paragraphs 17–24) relocates and updates the rules governing how HMRC determines amounts treated as taxable receipts under the lease premium provisions, particularly where that determination affects the tax liability of more than one person. These rules were previously in section 42 of the Income and Corporation Taxes Act 1988 and are now inserted as sections 302A, 302B and 302C of the Income Tax (Trading and Other Income) Act 2005.
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