Related Commentary  Related HMRC Manuals

845(1)  Subsection (2) applies–

(a)for the purpose of making a comparison under rule 4 of section 838(3) if section 838 has effect because of section 836(1), and

(b)for the purpose of making a comparison under section 839(3) if section 839 has effect because of section 836(2).

845(2)  The commercial rent is the rent which might be expected to be paid under a lease, of the land in respect of which the payment mentioned in section 836(1)(b) or (2)(b) is made, which–

(a)was negotiated in the open market when the rentcharge or other transaction mentioned in section 836(1)(b) or (2)(b) was effected,

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

Existing subscriber? Log in

No subscription?

Contact us to discuss your requirements.