Part 21

Leasing arrangements: finance leases and loans
Chapter 1

Introduction

Meaning of expressions about rent

Accountancy rental earnings
897
1
For the purposes of this Part, the “accountancy rental earnings” in respect of a lease for a period of account of the lessor (“L”) is the greatest of the amounts specified in subsection (2).
2
Those amounts are—
a
the rental earnings for that period in respect of the lease in L's case,
b
the rental earnings for that period in respect of the lease in the case of a person connected with L, and
c
the rental earnings for that period in respect of the lease for the purposes of consolidated group accounts of a group of companies of which L is a member.
3
For the meaning of “the rental earnings”, see section 898.