(1)This Chapter applies to determine entitlement to allowances under this Part in respect of expenditure on plant or machinery that is, or becomes, a fixture.
(2)For the purposes of this Part, ownership of plant or machinery that is, or becomes, a fixture is determined under this Chapter.
(3)The provisions of this Chapter that treat a person as being the owner of a fixture (see sections 176 to 184 and 193 to 195) are subject to the provisions of this Chapter which treat a person as ceasing to be the owner of a fixture (see sections 188 to 192).
(4)References in this Chapter to a person being treated—
(a)as the owner of plant or machinery, or
(b)as ceasing to be the owner of plant or machinery,
are to be read as references to the person being so treated for the purposes of this Part.
(5)This Chapter does not affect any entitlement a person has to an allowance as a result of section 538 (contribution allowances for plant and machinery).
(1)In this Chapter “fixture”—
(a)means plant or machinery that is so installed or otherwise fixed in or to a building or other description of land as to become, in law, part of that building or other land, and
(b)includes any boiler or water-filled radiator installed in a building as part of a space or water heating system.
(2)In this Chapter “relevant land”, in relation to a fixture means—
(a)the building or other description of land of which the fixture becomes part, or
(b)in the case of a boiler or water-filled radiator which is a fixture as a result of subsection (1)(b), the building in which it is installed as part of a space or water heating system.
(1)In this Chapter “equipment lease” means—
(a)an agreement entered into in the circumstances given in subsection (2), or
(b)a lease entered into under or as a result of such an agreement.
(2)The circumstances are that—
(a)a person incurs capital expenditure on the provision of plant or machinery for leasing,
(b)an agreement is entered into for the lease, directly or indirectly from that person, of the plant or machinery to another person,
(c)the plant or machinery becomes a fixture, and
(d)the agreement is not an agreement for the plant or machinery to be leased as part of the relevant land.
(3)In this Chapter—
“equipment lessor” means the person from whom (directly or indirectly) the equipment lease provides for the plant or machinery to be leased, and
“equipment lessee” means the person to whom the equipment lease provides for the plant or machinery to be leased.
(4)Except in the context of leasing plant or machinery, any reference in this Chapter to a lease is to—
(a)any leasehold estate in or, in Scotland, lease of, the land (whether in the nature of a head-lease, sub-lease or under-lease), or
(b)any agreement to acquire such an estate or, in Scotland, lease;
and, in relation to such an agreement, “grant” is to be read accordingly.
(1)In this Chapter “interest in land” means—
(a)the fee simple estate in the land or an agreement to acquire such an estate,
(b)in relation to Scotland, the interest of the owner or an agreement to acquire such an interest,
(c)a lease,
(d)an easement or servitude or an agreement to acquire an easement or servitude, and
(e)a licence to occupy land.
(2)If an interest in land is—
(a)conveyed or assigned by way of security, and
(b)subject to a right of redemption,
the person with the right of redemption is treated for the purposes of this Chapter as having that interest, and not the creditor.