[70DA Transfer and long funding leaseback: restrictions on lessee's allowances]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[70DA  Transfer and long funding leaseback: restrictions on lessee'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”), under a plant or machinery lease, and

(c)     that lease is a long funding lease.

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

(3)     The amount, if any, by which E exceeds D is to be left out of account in determining the available qualifying expenditure

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