[148F Lessor under long funding operating lease: termination of lease]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[148F  Lessor under long funding operating lease: termination of lease]

[(1)     This section applies in calculating for income tax purposes the profits of a person carrying on a trade if the person is the lessor immediately before the termination of a long funding operating lease.

(2)     If the termination amount exceeds the sum of the amounts in subsection (3), an amount equal to the excess is treated as income of the person attributable to the lease arising in the period of account in which

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