Part 9

Leasing plant or machinery
Chapter 2

Long funding leases of plant or machinery

Introduction

Overview of Chapter
359
1
This Chapter makes provision about the calculation for corporation tax purposes of the profits of companies which are—
a
lessors of plant or machinery under long funding finance leases (see sections 360 to 362),
b
lessors of plant or machinery under long funding operating leases (see sections 363 to 369),
c
lessees of plant or machinery under long funding finance leases (see sections 377 and 378), or
d
lessees of plant or machinery under long funding operating leases (see sections 379 and 380).
2
Sections 370 to 376 make provision about cases where sections 360 to 369 are not to apply.
3
For the meaning of expressions used in this section and in this Chapter generally, see section 381 and, in particular—
a
subsection (1) of that section (which provides for the application of Chapter 6A of Part 2 of CAA 2001 (interpretation of provisions about long funding leases) to this Chapter), and
b
subsections (2) and (3) of that section (which specify the provisions of that Chapter in which some expressions used in this Chapter are defined).