SCHEDULES
SCHEDULE 14Leases: changes to accounting standards etc
PART 3Changes to accounting standards and tax adjustments
16Cases where lessee permanently ceases to carry on activities
1
Sub-paragraph (2) applies if—
a
before the whole of an amount has been treated by paragraph 13 as arising, the lessee permanently ceases to carry on activities the profits of which are chargeable to income tax or corporation tax, and
2
The amount so far as not otherwise treated as arising—
a
is to be treated as arising to the lessee, and
b
is to be brought into account in calculating the profits of the lessee,
immediately before the cessation.