Capital Allowances Act 2001

223No first-year allowance for B’s expenditure
This section has no associated Explanatory Notes

(1)If plant or machinery is the subject of a sale and finance leaseback, a first-year allowance is not to be made in respect of B’s expenditure under the relevant transaction.

(2)Any first-year allowance which is prohibited by subsection (1), but which has already been made, is to be withdrawn.