F1Part 12ASale and lease-back etc
Annotations:
Amendments (Textual)
Chapter 1Payments connected with transferred land
Certain deductions from earnings: restriction and carrying forward of relief
681AEDeduction from earnings not to exceed commercial rent
1
Subsection (3) applies to the calculation of the relevant deduction from earnings allowed for the non-excluded element of the payment within section 681AA(2) or 681AB(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 681AI (service charges etc).
3
The deduction must not exceed the commercial rent for the period for which the payment is made (see section 681AJ or 681AK).
Pt. 12A 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. 4 para. 2 (with Sch. 9 paras. 1-9, 22)