Point in time view as at 01/10/2009.
Finance Act 2003, Paragraph 38 is up to date with all changes known to be in force on or before 10 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.
[F138(1)This paragraph applies in relation to a lease for the purposes of this Part of this Schedule if—
(a)the grant of the lease is or was a transaction to which paragraph 10 applies or applied (or a transaction to which paragraph 10 would have applied if that paragraph had been in force at the time of the grant), or
(b)the grant of the lease is a transaction to which paragraph 18 applies.
(2)In determining the market value of the lease, an obligation of the tenant under the lease is to be taken into account if (but only if)—
(a)it is an obligation such as is mentioned in paragraph 10 (1) of Schedule 17A, or
(b)it is an obligation to make a payment to a person.]
Textual Amendments
F1Sch. 15 Pt. 3 substituted (with effect in accordance with Sch. 41 para. 3 of the amending Act) by Finance Act 2004 (c. 12), Sch. 41 para. 1
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