Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 21: Leasing arrangements: finance leases and loans

Chapter 2: Finance leases with return in capital form
Section 920: Capital allowances deductions: waste disposal and cemeteries

2728.This section deals with deductions for capital expenditure allowed under section 142, 145 or 147 of CTA 2009. It is based on paragraph 11(11) and (12) of Schedule 12 to FA 1997.

2729.In these cases, an amount equal to the deductions allowed or, if less, the amount or value of the major lump sum is treated as a trading receipt.