Part 2

Plant and machinery allowances
Chapter 14

Fixtures

Introduction

Meaning of “interest in land”, etc.
175
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.