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Finance Act 2003

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Changes over time for: Cross Heading: Treatment of lease for indefinite term

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No versions valid at: 13/04/2003

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Point in time view as at 13/04/2003. This version of this cross heading contains provisions that are not valid for this point in time. Help about Status

Changes to legislation:

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 28 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. Help about Changes to Legislation

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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