Commentary

B3.1120 Business premises renovation—meaning of 'lease' etc

Business tax
Business tax | Commentary

B3.1120 Business premises renovation—meaning of 'lease' etc

Business tax | Commentary

B3.1120 Business premises renovation—meaning of 'lease' etc

The term 'lease' for the purposes of this Division includes an agreement for a lease, if the term to be covered by the lease has begun, and any tenancy. It does not include a mortgage1.

In the application of the legislation to Scotland2:

  1.  

    (a)     'leasehold interest' or 'leasehold estate' means the interest of a tenant in property subject to a lease; and

  2.  

    (b)     any reference to an interest which is reversionary on a leasehold interest or on a lease is to be read as a reference to the interest of the landlord in the

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