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Changes over time for: Section 855
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Status:
Point in time view as at 14/03/2012.
Changes to legislation:
Corporation Tax Act 2010, Section 855 is up to date with all changes known to be in force on or before 27 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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Changes to Legislation
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855Position where rent reducesU.K.
This section has no associated Explanatory Notes
(1)If the rent for a relevant period exceeds the rent for the following comparable period, the term of the new lease must be treated as ending on the date when the relevant period ends.
(2)For the purposes of this section—
(a)a relevant period is a rental period of the new lease ending before its fifteenth anniversary,
(b)the following comparable period (in relation to a relevant period) is the rental period which is of the same duration as the relevant period and which begins on the day following the end of the relevant period,
(c)the rent for a period is the total rent payable under the new lease in respect of the period,
(d)a rental period is a period in respect of which a payment of rent is to be made, and
(e)the fifteenth anniversary of the new lease is the fifteenth anniversary of the date on which its term begins.
(3)For the purposes of this section—
(a)all rental periods of a quarter must be treated as being of the same duration, and
(b)all rental periods of a month must be treated as being of the same duration.
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