Section 256 — Corporation Tax Act 2009: Ending of lease of premises

Ending of lease of premises 256 1 If a person's interest in the premises is a lease that comes to an end before the end of the deduction period, the interest is treated as if transferred to the following persons.

2 If a new lease of the premises is granted and the new tenant makes a payment in respect of the embankment in question to the old tenant, the transferee is the new tenant.

3 Otherwise the transferee is the owner of the interest in immediate reversion on the lease (or, in Scotland, the landlord).