# Taxation of Chargeable Gains Act 1992, Paragraph 2


(1) Subject to this Schedule where the payment of a premium is required under a lease of land, or otherwise under the terms subject to which a lease of land is granted, there is a part disposal of the freehold or other asset out of which the lease is granted.
(2) In applying section 42 to such a part disposal, the property which remains undisposed of includes a right to any rent or other payments, other than a premium, payable under the lease, and that right shall be valued as at the time of the part disposal.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/8/paragraph/2 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-8/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.