Part 9 Leasing plant or machinery

Chapter 3 Sales of lessors: leasing business carried on by a company alone

Election out of qualifying change of ownership

398G Transfers into and out of A
(1) Section 948 does not apply where A is the predecessor or the successor.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 398G(2) omitted (with effect in accordance with Sch. 6 para. 27 of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 6 para. 6(2)
(3) If any event occurs that requires A to bring the disposal value of plant or machinery into account under Part 2 of CAA 2001, that Part has effect as if the disposal value that A is required to bring into account were the higher of—
(a) the disposal value determined in accordance with that Part, and
(b) the ascribed value of the plant or machinery.
S. 398G(3)(4) substituted for s. 398G(3) (with effect in accordance with Sch. 6 para. 27 of the amending Act) by Finance Act 2011 (c. 11), Sch. 6 para. 6(3)
(4) Section 265 of CAA 2001 (successions) is subject to this section.
Ss. 398A-398G and cross-heading inserted (with effect in accordance with Sch. 18 para. 9 of the amending Act) by Finance Act 2010 (c. 13), Sch. 18 para. 6 (with Sch. 18 paras. 11-13)