C1

F1PART 2ASTRUCTURES AND BUILDINGS ALLOWANCES

Annotations:
Amendments (Textual)

CHAPTER 9SUPPLEMENTARY PROVISIONS

Leases

270IHMeaning of “lease” etc

1

In this Part “lease” includes—

a

an agreement for a lease if the term to be covered by the lease has begun,

b

any tenancy, and

c

in the case of land outside the United Kingdom, an interest corresponding to a lease,

but does not include a mortgage (and “lessee”, “lessor” and “leasehold interest” are to be read accordingly).

2

In the application of this Part to Scotland—

a

“leasehold interest” (or “leasehold estate”) means the interest of a tenant in property subject to a lease, and

b

any reference to an interest which is reversionary on a leasehold interest or on a lease is to be read as a reference to the interest of the landlord in the property subject to the leasehold interest or lease.