Finance Act 1998 (c. 36)

SCHEDULES

SCHEDULE 5 U.K. Rent and other receipts from land

Part IV U.K. Transitional provisions for corporation tax

Superseded provisions relating to finance leasing U.K.

74 (1) In Schedule 12 to the M1 Finance Act 1997 (leasing arrangements: finance leases and loans), the following provisions (which apply concepts from Case I of Schedule D in relation to rent taxed under Schedule A) shall cease to have effect in accordance with this paragraph. U.K.

(2) Paragraphs 3(6), 6(9)(b), 8(1) to (7) and 20(b) do not apply in relation to periods of account beginning on or after 1st April 1998.

A “period of account” means a period for which accounts are made up.

(3) Paragraph 8(8) does not apply if the time mentioned in that provision is on or after 1st April 1998.

(4) Paragraph 8(9) does not apply if the time mentioned in paragraph (a) of that provision is on or after 1st April 1998.

Marginal Citations

M1 1997 c. 16.