Corporation Tax Act 2010(c. 4) - Explanatory Notes

Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 9: Leasing plant or machinery

Chapter 2: Long funding leases of plant or machinery

Section 371: Adjustments where sections 360 to 369 subsequently disapplied by section 370

1144. This section applies if sections 360 to 369 previously applied, but the condition in section 370(2) is subsequently met. It is based on section 502GA(4) and (5) of ICTA.

1145. The section provides for just and reasonable assessments and adjustments to assessments to be made in relation both to the amounts taken into account in accordance with sections 360 to 369 and to those to be taken into account in accordance with section 370.