[228J Plant or machinery subject to further operating lease]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[228J  Plant or machinery subject to further operating lease]

[(1)     This section applies where—

(a)     plant or machinery is the subject of—

(i)     a sale and finance leaseback, or

(ii)     a lease and finance leaseback, and

(b)     some or all of the plant or machinery becomes, while the subject of the leaseback, also the subject of a lease in relation to which the following conditions are met—

(i)     the term of the lease begins on or after 18 May 2004;

(ii)     S, or a person connected with S, is the lessee under the lease;

(iii)     the lease is not accounted for as a finance lease in the accounts of the lessee.

(2)     For the purpose of income tax or corporation tax,

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