[229A Transfer followed by hire-purchase etc: restrictions on hirer's allowances]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[229A  Transfer followed by hire-purchase etc: restrictions on hirer's allowances]

[(1)     This section applies where—

(a)     a person (“S”) transfers plant or machinery to another person (“B”),

(b)     at any time after the date of the transfer, the plant or machinery is available to be used by S, or a person (other than B) who is connected with S (“CS”),

(c)     it is available to be so used under a contract which provides that S or CS is to or may become the owner of the plant or machinery on the performance of the contract, and

(d)     S or CS incurs capital expenditure on the provision of the plant or machinery under that contract.

(2)     No annual investment allowance or first-year allowance is to be made in respect of the expenditure of S or CS

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