INTRODUCTION

Related Commentary  Related HMRC Manuals

89(1)  In the case of a lease of a qualifying ship provided, directly or indirectly, to a company within tonnage tax, the provisions of Part 2 of the Capital Allowances Act 2001 have effect subject to and in accordance with the provisions of–

paragraphs 90 and 91 (defeased leasing),

paragraphs 91A to 91F (long funding leases),

paragraph 92 (sale and lease back arrangements, and

paragraphs 94 to 102 (quantitative restrictions on allowances).

This is subject to paragraph 89A (exception for ordinary charters).

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