BLM72095 - Schedule 12 FA 1997: relief for set-offs against rentals: simultaneous disposals


FA97/Sch12/Para12(6) provides a rule for allocating deductions for cumulative accountancy rental excess where, exceptionally, disposals qualifying for relief under paragraph 12(1) occur simultaneously (for example a disposal of the asset itself and a disposal of the shares in the lessor company). The rule is that the cumulative accountancy rental excess should be apportioned on a just and reasonable basis.