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HMRC internal manual

Property Income Manual

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HM Revenue & Customs
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Deductions: premiums paid: deemed premium for surrender of a lease

This page is about giving premium relief when the premium arises as a result of a payment made, under the terms on which the lease was granted, as consideration for the surrender of the lease.

Situations where a premium arises under ICTA88/S34 (4) or ITTOIA05/S280 as a result of a payment made, under the terms on which the lease was granted, as consideration for the surrender of the lease are dealt with at PIM1214. In such circumstances, the period to be taken into account for the purposes of computing premium relief may include years which have already been settled and which are not capable of being reopened. Where relief cannot ordinarily be given because the years concerned are closed, the papers should be submitted to CTIAA (Technical).