Section 97 — Corporation Tax Act 2009: Excluded cases

Excluded cases 97 1 A payment or other benefit is not a reverse premium so far as it is brought into account under section 532 of CAA 2001 (the general rule excluding contributions) to reduce the recipient's expenditure qualifying for capital allowances.

2 A payment or other benefit received in connection with a property transaction is not a reverse premium if—

a the person entering into the transaction is an individual, and b the transaction relates to premises occupied or to be occupied by the individual as the individual's only or main residence.

3 A payment or other benefit is not a reverse premium so far as it is consideration for the transfer of an estate or interest in land which constitutes the sale in a sale and leaseback arrangement.

4 A “ sale and leaseback arrangement ” means any such arrangement as is described in section 681AA(1) or (2) or 681AB(1) or (2) of ITA 2007 or section 835(1) or (2), 836(1) or (2) or 850 of CTA 2010 .