Related Commentary  Related HMRC Manuals

390(1)  This section applies to a loan that is used for capital expenditure on the provision of plant or machinery to which subsection (2) applies.

390(2)  This subsection applies to plant or machinery if–

(a)it is in use for the purposes of an office or employment held by an individual in the tax year,

(b)the plant or machinery belongs to the individual, and

(c)the individual is entitled to a capital allowance or liable to a balancing charge in respect of it under Part 2 of CAA 2001 for the tax year.

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