Finance Act, 1987
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Application of section 10 (exemption of certain income from leasing of farm land) of Finance Act, 1985. |
2.—(1) In this section, “qualifying lease”, “qualifying lessor” and “the specified amount” have the meanings respectively assigned to them by section 10 (1) of the Finance Act, 1985 . | |
(2) As respects a qualifying lease or qualifying leases made in the period beginning on the 20th day of January, 1987, and ending on the 31st day of December, 1987, the said section 10 (1) shall have effect as if references therein to £2,000 were references to £2,800: | ||
Provided that, where the income of a qualifying lessor consists of, or includes, rent or rents from a qualifying lease or qualifying leases made within the said period and from a qualifying lease or qualifying leases made at any other time, the specified amount shall not exceed £2,800. |