http://www.legislation.gov.uk/ukpga/2007/3/section/614CCIncome Tax Act 2007An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.texttext/xmlenStatute Law Database2026-08-13Expert Participation2026-07-15 Income Tax Act 2007s. 788(7)Legal Services Act 2007Sch. 21 para. 161(b)s. 29 192 193s. 211(2)art. 2(h) Part 11AChapter 3614CC1This section applies if, in the case of any period of account of the current lessor (“L”)—athis Chapter applies in relation to the lease, andbthe accountancy rental earnings in respect of the lease for that period of account exceed the normal rent for that period.2For income tax purposes, L is treated as if in that period of account L had been entitled to, and there had arisen to L, rent from the lease of an amount equal to those accountancy rental earnings (instead of the normal rent referred to in subsection (1)(b)).3Such rent from the lease of an asset is treated for income tax purposes—aas if it had accrued at an even rate throughout so much of the period of account as falls within the period for which the asset is leased, andbas if L had become entitled to it as it accrued.Pt. 11A inserted (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. 3 para. 2 (with Sch. 9 paras. 1-9, 22)Pt. 11A Ch. 3 inserted (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. 3 para. 4 (with Sch. 9 paras. 1-9, 22)