SCHEDULES

SCHEDULE 32 U.K.Leases of plant or machinery

Transfer and long funding leaseback: restrictions on lessee's allowances U.K.

16 U.K.In section 70H of CAA 2001 (lessee: requirement for tax return treating lease as long funding lease), after subsection (1B) insert—

“(1C) In a case in which paragraphs (a) and (b) of subsection (1) of section 70DA (leaseback of plant or machinery) are satisfied, subsection (1) of this section does not apply to the lease referred to in section 70DA(1)(b).”