Corporation Tax Act 2010
2010 CHAPTER 4
Introduction
Part 9: Leasing plant or machinery
Chapter 2: Long funding leases of plant or machinery
Section 367: Determination of remaining residual value resulting from lessor’s first additional expenditure
1136.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 first occasion on which the lessor incurs additional expenditure. It is based on section 502F(5) and (6) of ICTA.
1137.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 (2)(b) reflect the wording of section 363(4)(b). See the commentary on section 363.
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