Section 849 — Corporation Tax Act 2010: Overview of Chapter

Overview of Chapter 849 1 This Chapter provides that in certain circumstances where a lease of land is assigned or surrendered and another lease is granted or assigned—

a consideration received for the assignment or surrender of the first lease is taxed as a trade receipt or charged to corporation tax on income, and b tax relief is allowed for rent under the other lease.

2 The Chapter provides that in certain circumstances where a lease is varied it is treated as surrendered and another lease is treated as granted.