Where a POAT charge arises in respect of any land, the 'chargeable amount' is the 'appropriate rental value' less the amount of certain allowable payments made by the taxpayer in respect of their occupation of the relevant land1.
Appropriate rental value
The 'appropriate rental value' for any 'taxable period' is determined as such part of the 'rental value' as is attributed, at the 'valuation date', to that part of the value of the relevant land that represents the taxpayer's disposal or contribution. The legislation2 prescribes a fraction to be applied in making this calculation. Where the taxpayer has retained any interest in the land, the calculation will automatically exclude the rental value attributable to that retained interest.
The 'taxable period' is the year of assessment, or part of a year of assessment, during which the disposal condition or the contribution condition is met3.
The 'valuation date' is prescribed by regulations4 and is addressed in I3.743.
The 'rental value' is calculated for
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Web page updated on 17 Mar 2025 17:09