Related Commentary  Related HMRC Manuals

437A(1)  For the purposes of the sales of lessors Chapters, the ascribed value of plant or machinery at any given time (“the relevant time”) is the value determined in accordance with this section.

437A(2)  Subsection (3) applies to plant or machinery if–

(a)it is subject to a plant or machinery lease at the relevant time,

(b)the relevant company or partnership is a lessor under the lease, and

(c)subsection (5) does not apply to it.

437A(3)  The ascribed value of plant or machinery to which this subsection applies is the higher of–

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