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Corporation Tax Act 2010

Section 368: Determination of remaining residual value resulting from lessor’s further additional expenditure

1138.This section determines the amount of the remaining residual value of the plant or machinery for the purposes of section 366 as a result of the second and subsequent occasions on which the lessor incurs additional expenditure. It is based on section 502F(5) and (6) of ICTA.

1139.The words “(or, if section 365 applies, would have been expected to be that value had that value been estimated at that time)” in subsection (3)(a) reflect the wording of section 363(4)(b). See the commentary on section 363.

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