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HMRC internal manual

Business Income Manual

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Specific deductions: premiums: Falkirk & Lennard cases

Where a trading deduction is available for part of a premium paid on a lease as set out in BIM46251, the deduction continues to be available where, during any part of the receipt period, the trader stops using the land for the purposes of the trade in circumstances in which the decisions in CIR v Falkirk Iron Co Ltd [1933] 17TC625 and Hyett v Lennard [1940] 23TC346 apply (see BIM46815).