67 Plant or machinery treated as owned by person entitled to benefit of contract, etc
Capital Allowances Act 2001 (2001 c 2) | Legislation

Chapter 6
Hire-purchase etc and Plant or Machinery Provided by Lessee

Hire-purchase and similar contracts

67  Plant or machinery treated as owned by person entitled to benefit of contract, etc

(1)     This section applies if—

(a)     a person carrying on a qualifying activity [or corresponding overseas activity] incurs capital expenditure on the provision of plant or machinery for the purposes of the qualifying activity [or corresponding overseas activity], and

(b)     the expenditure is incurred under a contract providing that the person shall or may become the owner of the plant or machinery on the performance of the contract.

(2)     The plant or machinery is to be treated for the purposes of this Part as owned by the person (and not by any other person) at any time when he is entitled to the benefit of the contract so far

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