Point in time view as at 01/04/2010.
Corporation Tax Act 2010, Section 912 is up to date with all changes known to be in force on or before 14 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 in relation to the lease—
(a)the cumulative accountancy rental excess for any period of account of the current lessor (“L”) has been reduced under section 911(2) or (5) because of a bad debt deduction,
(b)in a subsequent period of account of L, an amount (“the relevant credit”) is recovered or credited in respect of the amount which constituted the bad debt deduction, and
(c)there is a cumulative accountancy rental excess for that subsequent period.
(2)The cumulative accountancy rental excess for the subsequent period is increased.
(3)If the relevant credit does not exceed the total of the reductions under section 911(2) or (5), the increase is by the relevant credit.
(4)Otherwise, the increase is limited to that total.
(5)In this section “bad debt deduction” has the meaning given in section 911(6).
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