Part 2 Plant and machinery allowances
Chapter 17Other anti-avoidance
F1Disposal of plant or machinery subject to lease where income retained
228MOther definitions for the purposes of s.228K
(1)
This section applies for the purposes of section 228K.
(2)
“Business of leasing plant or machinery”—
(a)
has the same meaning as in F2Chapter 3 of Part 9 of CTA 2010 (if the business is carried on otherwise than in partnership), or
(b)
has the same meaning as in F3Chapter 4 of that Part (if the business is carried on in partnership).
(3)
“Lease” includes—
(a)
an underlease, sublease, tenancy or licence, and
(b)
an agreement for any of those things.
(4)
“Relevant plant or machinery”, in relation to a business of leasing plant or machinery, means plant or machinery on whose provision expenditure is incurred wholly or partly for the purposes of the business.