Part 9Leasing plant or machinery

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

The amount of the income

403“TWDV” in section 399

(1)

For the purposes of section 399, “TWDV” means the sum of—

(a)

the total amount of unrelieved qualifying expenditure in single asset pools for the new chargeable period that is carried forward in the pools from the previous chargeable period under section 59 of CAA 2001,

(b)

the total amount of unrelieved qualifying expenditure in class pools for the new chargeable period that is carried forward in the pools from the previous chargeable period under that section, and

(c)

the amount of unrelieved qualifying expenditure in the main pool for the new chargeable period that is carried forward in the pool from the previous chargeable period under that section.

(2)

For the purposes of this section—

(a)

“the new chargeable period” means the accounting period of the relevant company that begins on the day following the relevant day (see section 383(4)(b)), and

(b)

expenditure incurred by the relevant company in acquiring plant or machinery on the relevant day is to be left out of account unless it is acquired from an associated company.