PART XVII TAX AVOIDANCE
CHAPTER VI MISCELLANEOUS
Other provisions
F1785DSection 785B: lease of plant and machinery and other property
1
This section applies if section 785B applies in relation to a lease of plant or machinery and other property (see section 785C(4)).
2
The relevant capital payment is to be apportioned, on a just and reasonable basis, between—
a
the plant and machinery, and
b
the other property.
3
If the income (if any) received by the lessor that is attributable to any of the plant or machinery is chargeable to tax under Schedule A, treat that plant or machinery as falling within subsection (2)(b) (and not subsection (2)(a)).
4
Section 785B(2) has effect as if the reference to the amount of the capital payment were to such amount as is apportioned under subsection (2) in respect of the plant or machinery within subsection (2)(a).