‘Income-into-capital’ schemes and back loaded leases: Definition of a Chapter 2 of Part 21 of CTA 2010 lease: Condition D: comparison with normal rent
The accountancy rental earnings (see BLM70580 onwards), once identified in this way, are then compared with the ‘normal rent’. The meaning of normal rent is discussed in BLM70600. Both accountancy rental earnings and normal rent are to be computed before any reduction in respect of bad debt relief. See BLM74000 onwards for a detailed discussion of bad debt relief.