Paragraph 21
United Kingdom
F1Section 222 of the Corporation Tax Act 2009 (lease granted at an undervalue) shall not apply in the case of any lease which, in accordance with a transfer scheme, is granted—
to a company which is a transferee under that or any other transfer scheme, or
by such a company to the BBC.
F2Sections 62 to 67 of the Corporation Tax Act 2009 (tenants occupying land for purposes of trade treated as incurring expenses) shall not apply where there is an amount which would have become chargeable in relation to any land but for sub-paragraph (1); and, accordingly, references to any such amount shall not be included in references in those sections to the taxed receipt .
In this paragraph “lease” has the same meaning as in F3Part 4 of the Corporation Tax Act 2009 (see section 291 of that Act) .
Annotations
Textual amendments
- F1
Words in Sch. 7 para. 21(1) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 446(3)(a) (with Sch. 2 Pts. 1, 2)
- F2
Words in Sch. 7 para. 21(2) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 446(3)(b) (with Sch. 2 Pts. 1, 2)
- F3
Words in Sch. 7 para. 21(3) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 446(3)(c) (with Sch. 2 Pts. 1, 2)