[614BC The conditions referred to in section 614BB(1)]
Income Tax Act 2007 (2007 c 3) | Legislation

[614BC  The conditions referred to in section 614BB(1)]

[(1)     This section sets out the conditions required by section 614BB(1) to be met for this Chapter to apply (conditions A to E).

(2)     Condition A is that at the relevant time—

(a)     the leasing arrangements fall for accounting purposes to be treated, in accordance with generally accepted accounting practice, as a finance lease or a loan, and

(b)     subsection (3) or (4) applies.

(3)     This subsection applies if the lessor (“L”), or a person connected with L, falls for accounting purposes to

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