BLM72005 - 바카라 사이트™Income-into-capital바카라 사이트™ schemes and back loaded leases: Relief for set-offs against rentals: avoidance of double taxation - function of the rental excess reliefs
The function of the two reliefs in the scheme of Part 21 of CTA 2010 is different:
- The relief for cumulative accountancy rental excess is intended to ensure that there is no double taxation of the lessor바카라 사이트™s return from the lease (see BLM72015).
- The relief for cumulative normal rental excess is of much narrower application. Its purpose is merely to ensure that negative depreciation for a period is not taxed under the Schedule (as part of 바카라 사이트˜accountancy rental earnings바카라 사이트™) to the extent that it can be franked by accumulated positive depreciation from earlier periods (see BLM72110).