Part 3

Property income
Chapter 8

Rent receivable in connection with a UK section 12(4) concern

Charge to tax on rent receivable in connection with a UK section 12(4) concern

Meaning of “rent receivable in connection with a UK section 12(4) concern”
336
1
For the purposes of this Chapter rent is receivable in connection with a UK section 12(4) concern if—
a
it is receivable in respect of an estate, interest or right in or over land in the United Kingdom, and
b
the estate, interest or right is used, occupied or enjoyed in connection with a concern listed in section 12(4).
2
For the purposes of this Chapter rent is also receivable in connection with a UK section 12(4) concern if—
a
it is receivable in respect of an estate, interest or right in or over land in the United Kingdom,
b
the lease or other agreement under which it is receivable provides for its recoupment by reducing royalties or payments of a similar nature, and
c
the reduction applies if the estate, interest or right is used, occupied or enjoyed in connection with a concern listed in section 12(4).
3
In this Chapter “rent” includes—
a
a receipt mentioned in section 266(3), and
b
any other receipt in the nature of rent.