Point in time view as at 01/04/2010.
Corporation Tax Act 2010, Section 892 is up to date with all changes known to be in force on or before 16 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies for corporation tax purposes if—
(a)section 890 applies as a result of subsection (1)(a) of that section, and
(b)at any time the lessor reasonably expects that the relevant capital payment will not be paid or will not be paid in full.
(2)For the purposes of calculating the profits of the lessor, a deduction is allowed for the period of account which includes that time.
(3)The amount of the deduction is equal to the amount reasonably expected not to be paid.
(4)No other deduction is allowed in respect of the matters mentioned in subsection (1)(b).
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