(1)Section 838 has effect if—
(a)land, or an estate or interest in land, is transferred,
(b)the transferor, or a company associated with the transferor, becomes liable to make a payment of rent under a lease of the land or part of it, and
(c)a deduction by way of relevant corporation tax relief (see section 837) is allowed for the payment.
(2)Section 839 has effect if—
(a)land, or an estate or interest in land, is transferred,
(b)the transferor, or a company associated with the transferor, becomes liable to make a payment of rent under a lease of the land or part of it, and
(c)a deduction under section 76 of ICTA (expenses of insurance companies) is allowed for the payment.
(3)The reference in subsection (1)(a) or (2)(a) to a transfer of an estate or interest in land includes a reference to any of the following—
(a)the granting of a lease or another transaction involving the creation of a new estate or interest in the land,
(b)the transfer of the lessee's interest under a lease by surrender or forfeiture of the lease, and
(c)a transaction or series of transactions affecting land or an estate or interest in land, such that some person is the owner or one of the owners before and after the transaction or transactions but another person becomes or ceases to be one of the owners.
(4)In relation to a transaction or series of transactions mentioned in subsection (3)(c), a person is to be regarded as a transferor for the purposes of this Chapter if the person—
(a)is an owner before the transaction or transactions, and
(b)is not the sole owner afterwards.
(5)The liability mentioned in subsection (1)(b) or (2)(b) is one resulting from—
(a)a lease, of the land or part of it, granted (at the time of the transfer or later) by the transferee to the transferor, or
(b)another transaction or series of transactions affecting the land or an estate or interest in it.
(6)The liability mentioned in subsection (1)(b) or (2)(b) is one arising at the time of the transfer or later.
(7)The reference in subsection (1)(a) or (2)(a) to a transfer does not include a transfer on or before 14 April 1964.
(1)Section 838 has effect if—
(a)land, or an estate or interest in land, is transferred,
(b)the transferor, or a company associated with the transferor, becomes liable to make a payment which is not rent under a lease but is otherwise connected with the land or part of it (whether it is a payment under a rentcharge or under some other transaction), and
(c)a deduction by way of relevant corporation tax relief (see section 837) is allowed for the payment.
(2)Section 839 has effect if—
(a)land, or an estate or interest in land, is transferred,
(b)the transferor, or a company associated with the transferor, becomes liable to make a payment which is not rent under a lease but is otherwise connected with the land or part of it (whether it is a payment under a rentcharge or under some other transaction), and
(c)a deduction under section 76 of ICTA (expenses of insurance companies) is allowed for the payment.
(3)The reference in subsection (1)(a) or (2)(a) to a transfer of an estate or interest in land includes a reference to any of the following—
(a)the granting of a lease or another transaction involving the creation of a new estate or interest in the land,
(b)the transfer of the lessee's interest under a lease by surrender or forfeiture of the lease, and
(c)a transaction or series of transactions affecting land or an estate or interest in land, such that some person is the owner or one of the owners before and after the transaction or transactions but another person becomes or ceases to be one of the owners.
(4)In relation to a transaction or series of transactions mentioned in subsection (3)(c), a person is to be regarded as a transferor for the purposes of this Chapter if the person—
(a)is an owner before the transaction or transactions, and
(b)is not the sole owner afterwards.
(5)The liability mentioned in subsection (1)(b) or (2)(b) is one resulting from a transaction or series of transactions affecting the land or an estate or interest in it.
(6)The liability mentioned in subsection (1)(b) or (2)(b) is one arising at the time of the transfer or later.
(7)The reference in subsection (1)(a) or (2)(a) to a transfer does not include a transfer on or before 14 April 1964.
For the purposes of this Chapter each of the following is a deduction by way of relevant corporation tax relief—
(a)a deduction in calculating profits or losses of a trade for corporation tax purposes,
(b)a deduction in calculating the profits of a UK property business for corporation tax purposes,
(c)a deduction in calculating any loss for which relief is given under section 91 (losses from miscellaneous transactions), or in calculating profits or gains chargeable to corporation tax under or by virtue of any provision to which section 1173 (miscellaneous charges) applies, and
(d)a deduction under section 1219 of CTA 2009 (expenses of management of a company's investment business).