Point in time view as at 01/04/2010.
Corporation Tax Act 2010, Section 908 is up to date with all changes known to be in force on or before 26 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies if a period of account of the current lessor (“L”) is one for which—
(a)the normal rent in relation to the lease exceeds the accountancy rental earnings, and
(b)there is a cumulative accountancy rental excess.
(2)The taxable rent for the period of account is reduced by setting against it the cumulative accountancy rental excess (but not so as to reduce that rent below the amount of the accountancy rental earnings).
(3)But see section 911(3) and (4) (under which the amount of the cumulative accountancy rental excess which may be set against the taxable rent is limited in some circumstances).
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