Point in time view as at 31/01/2013.
Corporation Tax Act 2010, Section 913 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies if in relation to the lease for any period of account of the current lessor—
(a)there is a cumulative normal rental excess, and
(b)a bad debt deduction falls to be made in respect of rent from the lease.
(2)If for that period—
(a)the accountancy rental earnings in the case of the lease do not exceed the normal rent, and
(b)the amount of the bad debt deduction exceeds the amount of that rent,
the cumulative normal rental excess for that period is reduced by the amount of the excess of that deduction over that rent (but not so as to reduce the amount of that rental excess below nil).
(3)Subsections (4) and (5) apply if for that period the accountancy rental earnings in relation to the lease exceed the normal rent.
(4)The amount of the cumulative normal rental excess that may be set against the taxable rent for that period under section 910 (reduction of taxable rent by the cumulative normal rental excess) is limited to the amount (if any) by which the accountancy rental earnings exceed the bad debt deduction.
(5)If for that period the bad debt deduction exceeds the accountancy rental earnings, the cumulative normal rental excess for that period is reduced by the amount of the excess (but not so as to reduce the amount of that rental excess below nil).
(6)In this section, in relation to a period of account of the lessor—
“bad debt deduction” has the meaning given in section 911(6), and
“taxable rent” has the meaning given in section 906(2).
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