[228K Disposal of plant or machinery subject to lease where income retained]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[Disposal of plant or machinery subject to lease where income retained]

[228K  Disposal of plant or machinery subject to lease where income retained]

[(1)     This section applies for corporation tax purposes if—

(a)     on any day (“the relevant day”) a person (“the lessor”) carries on a business of leasing plant or machinery (the “leasing business”),

(b)     on the relevant day the lessor sells or otherwise disposes of any relevant plant or machinery subject to a lease to another person,

(c)     the lessor remains entitled immediately after the disposal to some or all of the rentals under the lease in respect of the plant or machinery which are payable on or after the relevant day, and

(d)     the lessor is required to bring a disposal value of the plant or machinery

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