[228MA Restriction of qualifying expenditure]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[228MA  Restriction of qualifying expenditure]

[(1)     This section applies where capital expenditure is incurred on the provision of plant or machinery (“the asset”) and at the time the expenditure is incurred—

(a)     the asset is leased or arrangements exist under which it is to be leased, and

(b)     arrangements have been entered into in relation to payments under the lease that have the effect of reducing the value of the asset to the lessor (“V”).

(2)     For the purposes of capital allowances the lessor's qualifying expenditure on the asset is restricted to V.

(3)     The value

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