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Changes over time for: Section 261A


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 06/04/2024.
Changes to legislation:
Capital Allowances Act 2001, Section 261A is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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[261ASpecial leasing: leasing partnershipsU.K.
This section has no associated Explanatory Notes
(1)This section applies for corporation tax purposes if—
(a)a company carries on a business in partnership with other persons in a chargeable period of the partnership,
(b)the business (“the leasing business”) is, on any day in that period, a business of leasing plant or machinery,
(c)the company is entitled to an allowance under section 19 (special leasing of plant or machinery) for any chargeable period comprised (wholly or partly) in the chargeable period of the partnership, and
(d)the interest of the company in the leasing business during the chargeable period of the partnership is not determined on an allowable basis.
(2)Subsections (3) to (6) of section 260 do not apply in relation to the allowance.
(3)For the purposes of this section—
(a)“business of leasing plant or machinery” has the same meaning as in [Chapter 4 of Part 9 of CTA 2010 (sales of lessors: leasing business carried on by a company in partnership)], and
(b)[section 887 of CTA 2010] applies for determining whether the interest of the company in the leasing business during the chargeable period of the partnership is determined on an allowable basis.]
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