SCHEDULES

SCHEDULE 7 Transfer schemes relating to BBC transmission network: taxation provisions

Capital allowances: leased fixtures

15

1

This paragraph applies to any lease which is granted in pursuance of an obligation imposed by a provision contained in a preparatory scheme by virtue of paragraph 2(1)(g) of Schedule 5.

2

Where the conditions in F1section 183(1)(a) and (b) of the Capital Allowances Act (incoming lessee where lessor entitled to allowances)are fulfilled in relation to a lease to which this paragraph applies—

a

the lessee shall be deemed for the purposes of F2Part 2 of that Act to have given as consideration for the lease a capital sum which falls to be treated for the purposes of that Part as expenditure on the provision of the fixture concerned;

b

the amount of that capital sum shall be the prescribed amount; and

c

F3subsection (1)(d) of that section shall be disregarded.

3

Where the conditions in F4section 184(1)(a) to (c) of the Capital Allowances Act (incoming lessee where lessor not entitled to allowances) are fulfilled in relation to a lease to which this paragraph applies—

a

the lessee shall be deemed for the purposes of F5Part 2 of that Act to have given as consideration for the lease a capital sum which falls to be treated for the purposes of that Part as expenditure on the provision of the fixture concerned; and

b

the amount of that capital sum shall be the prescribed amount.