Part 2

Plant and machinery allowances
Chapter 11

Overseas leasing

Qualifying purposes

Transport containers
124
1
A transport container is used for a qualifying purpose at any time when it is leased in the course of a trade which is carried on by a person who—
a
is resident in the United Kingdom, or
b
carries on the trade there,
and either of the conditions given below is met.
2
The first condition is that—
a
the person’s trade consists of or includes the operation of ships or aircraft, and
b
the container is at other times used by that person in connection with the operation of the ships or aircraft.
3
The second condition is that the container is leased under a succession of leases to different persons who are not, or most of whom are not, connected with each other.
Pt. 2 (ss. 11-270) modified (prosp.) by Proceeds of Crime Act 2002 (c. 29), ss. 448, 458(1), Sch. 10 para. 12 (with para. 17(1))