BLM70805 - ‘Income-into-capital’ schemes and back loaded leases: Back loaded leases: accountancy rental earnings - definition

‘Accountancy rental earnings’ are defined in CTA10/SS897 and 898 in two stages. CTA10/S898 defines ‘rental earnings’ (see BLM70810). CTA10/S92& then defines ‘accountancy rental earnings’ (see BLM70815). ‘Normal rent’ is defined in CTA10/S896 (see BLM70825). Both accountancy rental earnings and normal rent are to be computed before any reduction in respect of bad debt relief. See BLM74000 for a detailed discussion of bad debt relief.