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Corporation Tax Act 2010

Section 387: “Business of leasing plant or machinery”

1185.This section, read with sections 388 to 391, sets out the conditions for determining whether on any day a companycarries on a “business of leasing plant or machinery” for the purposes of Chapter 3. It is based on paragraph 6 of Schedule 10 to FA 2006.

1186.Condition A in subsection (3) is that at least one half of “the relevant plant or machinery value” (see section 388) relates to “qualifying leased plant or machinery” (see subsection (7)).

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