621U.K.For section 294(1)(c) (restriction on section 292 expenses: lease of part of premises) substitute—
“(c)the condition in subsection (1A) is met.
(1A)The condition is that—
(a)in calculating the amount of a receipt under any of sections 277 to 281 (receipts in respect of lease premiums or sums payable instead of rent, for surrender of lease or for variation or waiver of terms of lease) in respect of the lease, there is a reduction under section 288 by reference to a taxed receipt, or
(b)in calculating the amount of a receipt under any of sections 217 to 221 of CTA 2009 (receipts in respect of lease premiums or sums payable instead of rent, for surrender of lease or for variation or waiver of terms of lease) in respect of the lease, there is a reduction under section 228 of that Act (the additional calculation rule) by reference to a taxed receipt.
The receipt that is so reduced is referred to in this section as the “lease premium receipt”.”