Corporation Tax Act 2009

232 (1) Amend section 779 (sale and lease-back: limitation on tax reliefs) as follows.

(2) For subsection (10) substitute—

“(10) In this section references to rent under a lease include references to expenses which the tenant under the lease is treated as incurring in respect of the land subject to the lease under—

(a) sections 61 to 67 or 292 to 297 of ITTOIA 2005, or

(b) sections 63 to 67 or 232 to 234 of CTA 2009,

and such expenses are treated for the purposes of this section as having been paid as soon as they have been incurred.”

(3) In subsection (13)—

(a) omit paragraph (a),

(b) in paragraph (c) for “profits or gains chargeable under Case VI of Schedule D” substitute “profits or gains chargeable to corporation tax under or by virtue of any provision to which section 834A (miscellaneous charges) applies”,

(c) in paragraph (d) leave out “75 or”, and

(d) after paragraph (d) insert—

“(da) a deduction under section 1219 of CTA 2009 (expenses of management of a company’s investment business);”.