Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 19: Sale and lease-back etc

Chapter 3: Leased trading assets
Section 865: Tax deduction not to exceed commercial rent

2566.This section restricts corporation tax relief and carries forward relief which has been denied. It is based on section 782(1) to (4) of ICTA.

2567.Subsection (3) brings the law into line with practice. See the commentary on section 838 and Change 55 in Annex 1.