Income Tax Act 2007 (c. 3)

[F1 Part 12A U.K. Sale and lease-back etc]

Textual Amendments

F1 Pt. 12A 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. 4 para. 2 (with Sch. 9 paras. 1-9, 22)

[F2 Chapter 4 U.K. Leased assets: capital sums

Textual Amendments

F2 Pt. 12A Ch. 4 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. 4 para. 5 (with Sch. 9 paras. 1-9, 22)

Interpretation U.K.

681DM Capital sum U.K.

For the purposes of this Chapter a capital sum is any sum of money, or any money's worth, except so far as it or any part of it—

(a) is to be treated for income tax purposes as a receipt to be taken into account in calculating the profits or losses of a trade, profession or vocation, or

(b) is (apart from this Chapter) chargeable to income tax under or by virtue of any provision to which section 1016 applies.]