Variation of a lease to give rise to an additional unauthorised payment9
1
An investment-regulated pension scheme is to be treated as making an unauthorised payment within section 174A(1) to a member of the pension scheme, if—
a
a lease of taxable property is varied (whether or not in pursuance of a provision in the lease) so as to increase the amount of the rent; and
b
the increase falls to be regarded as abnormal (within the meaning of paragraph 15 of Schedule 17A to the Finance Act 2003).
2
The variation shall be treated for the purposes of the taxable property provisions as if it were the grant of a lease in consideration of the additional rent made payable by the variation.