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Finance Act 2003
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- UK Public General Acts
- 2003 c. 14
- SCHEDULE 5
- Treatment of lease for...
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Changes over time for: Cross Heading: Treatment of lease for indefinite term
No versions valid at: 13/04/2003
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- 10/07/2003- Amendment
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Point in time - 01/12/2003- Amendment
- 22/07/2004- Amendment
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Finance Act 2003, Cross Heading: Treatment of lease for indefinite term is up to date with all changes known to be in force on or before 25 February 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.
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Valid from 10/07/2003
Treatment of lease for indefinite termU.K.
7(1)For the purposes of this Schedule a lease for an indefinite term is treated as if it were a lease for a term of 12 years.U.K.
(2)Sub-paragraph (1) applies, in particular, to a lease expressed to be—
(a)perpetual,
(b)for life, or
(c)determinable on the marriage of the lessee.
(3)No account shall be taken for the purposes of this Schedule of any statutory provision deeming such a lease to be a lease for a longer definite term.
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