Related Commentary  Related HMRC Manuals

53(1)  This section applies if–

(a)under a contract a company (“the leasing company”) incurs capital expenditure on the provision of plant or machinery,

(b)the leasing company lets that plant or machinery to another person under another contract (“the leasing contract”),

(c)a first-year allowance (within the meaning of Part 2 of CAA 2001) in relation to the capital expenditure is made to the leasing company for an accounting period (“the allowance period”),

(d)arrangements within subsection (3) are in place in the allowance period, and

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