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Corporation Tax Act 2010

Section 855: Position where rent reduces

2534.This section deals with the position where the rent is reduced. It is based on section 780(2) and (8) of ICTA.

2535.Subsection (1) uses the expressions “rent for a relevant period” and “following comparable period”. Subsection (2)(a), (b) and (c) define “relevant period”, “following comparable period” and “rent for a period” respectively.

2536.Subsection (2)(a) uses the expressions “rental period” and “fifteenth anniversary [of the new lease]”. These expressions are defined in subsection (2)(d) and (e) respectively.

2537.Subsection (3) supplements the definition of “rental period” in subsection (2)(d).

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