282 Assignments for profit of lease granted at undervalue
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

282  Assignments for profit of lease granted at undervalue

(1)     This section applies to an assignment of a short-term lease if—

(a)     the lease was granted at an undervalue, and

(b)     a profit is made on the assignment.

(2)     The person who assigns the lease is treated as—

(a)     entering into a transaction mentioned in section 264 (if the land to which the

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