303 Rules for determining effective duration of lease
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

Effective duration of lease

303  Rules for determining effective duration of lease

(1)     The following rules apply for determining the effective duration of a lease for the purposes of this Chapter.

[Rule 1: If—

(a)     the terms of the lease or any other circumstances make it unlikely that the lease will continue beyond a date before the end of the term for which the lease was granted, and

(b)     the premium was not substantially greater than it would have been

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