Capital Allowances Act 2001

[F1270IHMeaning of “lease” etcU.K.
This section has no associated Explanatory Notes

(1)In this Part “lease” includes—

(a)an agreement for a lease if the term to be covered by the lease has begun,

(b)any tenancy, and

(c)in the case of land outside the United Kingdom, an interest corresponding to a lease,

but does not include a mortgage (and “lessee”, “lessor” and “leasehold interest” are to be read accordingly).

(2)In the application of this Part to Scotland—

(a)“leasehold interest” (or “leasehold estate”) means the interest of a tenant in property subject to a lease, and

(b)any reference to an interest which is reversionary on a leasehold interest or on a lease is to be read as a reference to the interest of the landlord in the property subject to the leasehold interest or lease.]

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