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HMRC internal manual

Capital Gains Manual

Leases: disposal: short leases: introduction

A number of special rules apply to the disposal of a short lease, that is a lease with a remaining term of 50 years or less at the date of its disposal.

Those rules are dealt with in the following guidance:

  • wasting of allowable expenditure: general, see CG71141
  • disposal of lease acquired subject to a sub-lease not at a rack rent, see CG71170
  • interaction with capital allowances, see CG71180
  • disposal of a lease which was a wasting asset at 6 April 1965, see CG71190
  • interaction with property income relief, see CG71200
  • assignment of a short lease granted at under-value, see CG71210.