Part 4

Property income
Chapter 4

Profits of property businesses: lease premiums etc

Certain administrative provisions

Payment of tax by instalments
236
1
This section applies if—
a
there is a receipt under section 217 (lease premiums) in respect of a premium which is payable by instalments, or
b
there is a receipt under any of sections 219 to 221 (sums payable instead of rent, for surrender of lease or for variation or waiver of terms of lease) in respect of a sum which is payable by instalments.
2
The company which is liable to pay tax by reference to the receipt may choose to pay the tax by such instalments as an officer of Revenue and Customs may allow.
3
The period over which the instalments of tax must be paid—
a
must be 8 years or less, and
b
must end before, or at the same time as, the time when the last of the instalments mentioned in subsection (1)(a) or (b) is payable.
Pt. 4 Ch. 4 applied by 2010 c. 8, s. 436(8) (as inserted (with effect in accordance with Sch. 5 para. 25(1)-(3) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 1 (with Sch. 5 paras. 27, 32-34))