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Changes over time for: Cross Heading: Other interpretative provisions


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 07/04/2005.
Changes to legislation:
There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Cross Heading: Other interpretative provisions.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Other interpretative provisionsU.K.
306Provisions about premiumsU.K.
(1)For the purposes of this Chapter, the presumption is that a sum paid on or in connection with the granting of a tenancy has been paid by way of premium.
(2)This does not apply if the sum is rent.
(3)This also does not apply so far as other sufficient consideration for the payment can be shown to have been given.
(4)In this section “sum” includes the value of any consideration.
(5)Where rule 3 in section 303 (rules for determining effective duration of lease) applies, the premium, or an appropriate part of it, payable for or in connection with either lease mentioned in that rule may be treated for the purposes of this Chapter as having been required under the other.
307InterpretationU.K.
(1)In this Chapter “premium” includes any similar sum payable to the immediate or a superior landlord or to a person connected with such a person.
(2)In subsection (1) “sum” includes the value of any consideration.
(3)In the application of this Chapter to Scotland—
“premium” includes, in particular, a grassum payable to the landlord under the lease in respect of which the grassum is payable or the landlord under any other lease of the property, and
“reversion” means the interest of the landlord in the property subject to the lease.
(4)In the application of this Chapter to Scotland—
(a)references to a lease being granted out of a taxed lease are to the grant of a sublease of land subject to the taxed lease, and
(b)references to the lease so granted are to be read as references to the sublease.
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