Part 3

Property income
Chapter 4

Profits of property businesses: lease premiums etc.

Amounts treated as receipts: leases

Sums to which sections 277 to 281 do not apply
281A
1
This section applies if a grant of a lease constitutes a disposal of an asset for the purposes of section 809BZA(2)(b) or 809BZF(2)(a) of ITA 2007 (disposals under finance arrangements).
2
Sections 277 to 281 do not apply in relation to a premium paid in respect of the grant.
S. 281A inserted (1.4.2010) (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 270 (with Sch. 9 paras. 1-9, 22)