Section 30 Deductions allowance in connection with onerous or impaired leases

(1)     Part 7ZA of CTA 2010 (restrictions on obtaining certain deductions) is amended in accordance with subsections (2) to (15).

(2)     Section 269ZX (increase of deductions allowance where provision for onerous lease reversed) is amended in accordance with subsections (3) to (6).

(3)     In the heading, for “where provision for onerous lease reversed” substitute “in connection with onerous or impaired leases”.

(4)     In subsection (1)(a), for “relevant reversal credit (see section 269ZY)” substitute “relevant credit”.

(5)     After subsection (1) insert—

“(1A)     In this section “relevant credit” means a relevant reversal credit, a relevant remeasurement credit or a relevant variable lease payment (see sections 269ZY and 269ZYZA).”

(6)     In subsection (3)(a), for “relevant reversal credit” substitute “relevant credit (or, if there is more than one, the sum of the relevant credits)”.

(7)     Section 269ZY (meaning of “relevant reversal credit”) is amended in accordance with subsections (8) to (13).

(8)     In subsection (1), for “a relevant onerous lease provision” substitute “—

(9)     In subsection (2)(b), for “accountancy” substitute “accounting”.

(10)