[70J “Funding lease”]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[70J  “Funding lease”]

[(1)     A “funding lease” is a plant or machinery lease (see section 70K) which at its inception meets one or more of the following tests—

(a)     the finance lease test (see section 70N),

(b)     the lease payments test (see section 70O),

(c)     the useful economic life test (see section 70P).

[(1A)     A plant or machinery lease is also a “funding lease” if the plant or machinery is cushion gas.]

(2)     [Subsections (1) and (1A) are] subject to the following provisions of

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