Capital Allowances Act 2001

188 Cessation of ownership when person ceases to have qualifying interest U.K.

(1) This section applies if a person is treated as the owner of a fixture under—

(a) section 176 (person with interest in land having fixture for purposes of qualifying activity),

(b) section 181 (purchaser of land giving consideration for fixture),

(c) section 182 (purchaser of land discharging obligations of equipment lessee),

[F1 (ca) section 182A (purchaser of land discharging obligations of client under energy services agreement),]

(d) section 183 (incoming lessee where lessor entitled to allowances), or

(e) section 184 (incoming lessee where lessor not entitled to allowances).

(2) If the person ceases at any time to have the qualifying interest, he is to be treated as ceasing to be the owner of the fixture at that time.

(3) In this Chapter “the qualifying interest” means—

(a) if section 176, 181 [F2 , 182 or 182A] applies, the interest in the relevant land referred to in that section, and

(b) if section 183 or 184 applies, the lease referred to in that section.

(4) This section is subject to section 189.

Textual Amendments

F1 S. 188(1)(ca) inserted (with effect as mentioned in s. 66 of the amending Act) by Finance Act 2001 (c. 9), s. 66, Sch. 18 para. 7(2)

F2 Words in s. 188(3)(a) substituted (with effect as mentioned in s. 66 of the amending Act) by Finance Act 2001 (c. 9), s. 66, Sch. 18 para. 7(3)