Relevant capital payments: leases whose inception is before 22 April 2009U.K.
97(1)In relation to payments made under leases whose inception is before 13 November 2008, section 893 of this Act (“capital payment”, “relevant capital payment” etc) and section 809ZE of ITA 2007 (which is inserted by Schedule 1 to this Act and makes provision corresponding to section 893 for income tax purposes) apply with the modifications in sub-paragraphs (2) to (4).U.K.
(2)In subsection (3) for “subsections (6) and (7)” substitute “ subsection (6) ”.
(3)In subsection (6) at the end of paragraph (b) insert “, or
(c)it would fall (or falls) to be brought into account by the lessor as a disposal receipt within the meaning of Part 2 of CAA 2001 (see section 60(1) of that Act).”
(4)Omit subsection (7).
(5)In relation to payments made under leases whose inception is before 22 April 2009 but not before 13 November 2008, section 893(7) of this Act and section 809ZE(7) of ITA 2007 apply with the substitution for the words following paragraph (b) of “ the capital payment is not “relevant” .
(6)In this paragraph “inception” has the meaning given in section 70YI(1) of CAA 2001.