Finance Act 2009 (c. 10)

SCHEDULES

SCHEDULE 11 U.K. Tax relief for business expenditure on cars and motor cycles

Part 2 U.K. Restrictions on deductions for hire expenses

Corporation tax U.K.

63 (1) Section 578B (expenditure on car or motor cycle hire: supplementary) is amended as follows. U.K.

(2) In subsection (1)—

(a) omit “one”,

(b) before paragraph (a) insert—

“(za) a motor cycle (within the meaning of section 185(1) of the Road Traffic Act 1988),”,

(c) in paragraphs (a) and (b), insert at the beginning “a vehicle”, and

(d) omit the words after paragraph (b).

(3) In subsection (2)—

(a) omit paragraph (b), and

(b) insert at the end—

“(c) it is leased under a long-funding lease (within the meaning of section 70G of the Capital Allowances Act).”

(4) In subsection (3), omit “section 578A and”.

(5) Omit subsection (4).