Where, under the terms subject to which a lease1 is granted, a sum becomes payable by the tenant in lieu of the whole or a part of the rent2 for any period3, the person to whom the sum is due is treated as entering into a transaction for the purposes of his UK property business (or, if the land is outside the United Kingdom, his overseas property business)4 and as receiving the specified amount as a result of that transaction; and that amount is brought into account as a receipt in calculating the profits of the property business which
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234