BLM72001 - 鈥橧ncome-into-capital鈥� schemes and back loaded leases: Relief for set-offs against rentals: avoidance of double taxation - rental excesses

This chapter is concerned with the reliefs for set-off against rentals otherwise taxable of any 鈥榗umulative accountancy rental excess鈥� and 鈥榗umulative normal rental excess鈥�.

Where, for a period of account:

  • the accountancy rental earnings exceed the normal rent, there is an 鈥渁ccountancy rental excess鈥�; and
  • the normal rent exceeds the accountancy rental earnings, there is a 鈥渘ormal rent excess鈥�.