F1Part 11ALeasing arrangements: finance leases and loans
F2Chapter 2Finance leases with return in capital form
Pt. 11A Ch. 2 inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 3 para. 3 (with Sch. 9 paras. 1-9, 22)
Capital allowances: claw-back of major lump sum
614BWContributors to capital expenditure
1
This section applies if—
a
section 614BS or 614BT applies in relation to a leased asset,
b
allowances are or have been made to a person (“the contributor”) as a result of sections 537 to 542 of CAA 2001 (allowances in respect of contributions to capital expenditure), and
c
those allowances are or were in respect of the contributor's contribution of a capital sum to expenditure on the provision of the leased asset.
2
Section 614BS or, as the case may be, section 614BT has effect in relation to the contributor and those allowances as it has effect in relation to the current lessor and allowances in respect of capital expenditure incurred by the current lessor in respect of the leased asset.
Pt. 11A inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 3 para. 2 (with Sch. 9 paras. 1-9, 22)