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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2002 - onwards
  Version 3 of 3    

370. Double rent allowance in respect of rent paid for certain business premises.

Repealed from 1 January 2002

(1) In this section -

"qualifying lease" means, subject to subsection (8), a lease in respect of a qualifying premises granted in the qualifying period on bona fide commercial terms by a lessor to a lessee not connected with the lessor, or with any other person entitled to a rent in respect of the qualifying premises, whether under that lease or any other lease;

"qualifying premises" means, subject to subsection (5)(a), a building or structure the site of which is wholly within a qualifying area and -

(a)

(i) which is a building or structure in use for a purpose specified in section 268(1)(a), and in respect of which capital expenditure is incurred in the qualifying period for which an allowance -

(I) is to be made, or

(II) will by virtue of section 279 be made, or, if an order under section 367(1)(a) were to be made directing that the area is to be a qualifying area for the purposes of section 368, would be made,

for the purposes of income tax or corporation tax, as the case may

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