[70E Disposal events and disposal values]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[70E  Disposal events and disposal values]

[(1)     This section applies ·É³ó±ð°ù±ð—

(a)     a person is the lessee of plant or machinery under a long funding lease,

(b)     as a result of section 70A, the person falls to be regarded as having incurred qualifying expenditure on the provision of the plant or machinery, and

[(c)     a relevant event occurs].

[(1A)     A relevant event occurs if—

(a)     the lease terminates,

(b)     the plant or machinery begins to be used wholly or partly for purposes other than those of the qualifying activity, or

(c)     the qualifying activity is permanently discontinued.]

(2)     In the case of that person—

(a)     the [relevant event] is a disposal event, and

(b)     the person is required to bring into account a disposal value for the chargeable period in which that disposal event occurs.

[(2A)     The amount of the disposal value is—

(QE - QA) + R

·É³ó±ð°ù±ð—

QE is the person's qualifying expenditure on the provision of the plant or machinery;

QA is the qualifying amount (see subsections (2B) to (2E));

[R is the sum of—

(a)     any relevant rebate (see subsections (2F) and (2G)), and

(b)     any other relevant lease-related payment (see subsections (2FA)

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