Income and Corporation Taxes Act 1970

90 Interpretation

(1) In this Part of this Act, except where the context otherwise requires—

• " assignment ", in relation to Scotland, means an assignation ;

• " lease " includes an agreement for a lease, and any tenancy, but does not include a mortgage or heritable security, and " lessee ", " lessor " and " letting " shall be construed accordingly, and " lessee " and " lessor " include respectively the successors in title of a lessee or a lessor;

• " premises " includes any land ;

• " premium " includes any like sum, whether payable to the immediate or a superior landlord ;

• " reversion ", in relation to Scotland, means the interest of the landlord in the property subject to the lease.

(2) For the purposes of this Part of this Act any sum (other than rent) paid on or in connection with the granting of a tenancy shall be presumed to have been paid by way of premium except in so far as other sufficient consideration for the payment is shown to have been given.

(3) In the application of this Part of this Act to Scotland " premium" includes in particular a grassum payable to any landlord or intermediate landlord on the creation of a sublease; and in this subsection "intermediate landlord" means, where an occupying lessee is a sub-lessee, any person for the time being holding the interest of landlord under a sub-lease which comprises the property of which the occupying lessee is sub-lessee, but does not include the immediate landlord.