46 Plant and machinery: long funding leases
Finance Act 2012 (2012 c 14) | Legislation

46  Plant and machinery: long funding leases

(1)     Section 70E of CAA 2001 (disposal events and disposal values) is amended as follows.

(2)     In subsection (2A), for the definition of “R” substitute—

“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) and (2G)).”

(3)     After subsection (2F) insert—

“(2FA)     Relevant lease-related payment” means any payment which—

(a)     is payable at any time for the benefit (directly or indirectly) of the lessee or a person connected with the lessee,

(b)     is connected with the long funding lease, or with any arrangement connected

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