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Corporation Tax Act 2010
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892Deduction where failure to make relevant capital payment expected
This section has no associated Explanatory Notes
(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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