Commentary

C2.1232 Deemed premiums other than for surrender of lease

Capital gains tax
Capital gains tax | Commentary

C2.1232 Deemed premiums other than for surrender of lease

Capital gains tax | Commentary

C2.1232 Deemed premiums other than for surrender of lease

Where a sum becomes payable by the tenant either:

  1.  

    (a)     in computation of rent for any period, under the terms subject to which a lease is granted, or

  2.  

    (b)     otherwise than by way of rent, as consideration for the variation or waiver of any of the terms of a lease,

the sum is taxed as income of the recipient at the time the sum is payable as income of a property business, computed by a formula similar to that used for a premium1.

For capital gains purposes, the lease is deemed to have required the

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