Part 19 U.K. Sale and lease-back etc

Chapter 1 U.K. Payments connected with transferred land

Insurance company expenses: restriction and carrying forward of relief U.K.

839 Deduction F1 ... not to exceed commercial rent U.K.

(1) Subsection (3) applies to the calculation of [F2 the amount to be taken into account as mentioned in section 835(2)(c) or 836(2)(c) in respect of] the non-excluded element of the payment within section 835(2) or 836(2).

(2) For the purposes of this section the non-excluded element of a payment is the element of the payment not excluded under section 843 (service charges etc).

(3) [F3 The amount of the payment to be taken into account] must not exceed the commercial rent for the period for which the payment is made (see section 844 or 845).

Textual Amendments

F1 Words in s. 839 heading omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 226(4)

F2 Words in s. 839(1) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 226(2)

F3 Words in s. 839(3) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 226(3)