Related Commentary  Related HMRC Manuals

614BT(1)  This section applies if any allowance is or has been given in respect of capital expenditure incurred by the current lessor (“L”) in respect of the leased asset under any provision of CAA 2001 other than–

(a)Part 2 of CAA 2001 (plant and machinery allowances),

(b)Part 5 of that Act (mineral extraction allowances), or

(c)Part 8 of that Act (patent allowances).

614BT(2)  The amount specified in subsection (3) is treated, in relation to L, as if it were a balancing charge to be made on L for the chargeable period in which the relevant occasion falls.

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