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Capital Allowances Act 2001

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Changes over time for: Section 64A

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Point in time view as at 06/04/2024.

Changes to legislation:

Capital Allowances Act 2001, Section 64A is up to date with all changes known to be in force on or before 06 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. Help about Changes to Legislation

[F164ALeased assets: arrangements reducing disposal value of assetU.K.
This section has no associated Explanatory Notes

(1)Where—

(a)plant or machinery (“the asset”) is subject to a lease,

(b)a disposal event occurs with the result that a disposal value in respect of the asset is to be brought into account under Item 1, 2 or 7 of the Table in section 61(2), and

(c)arrangements have been entered into that have the effect of reducing the disposal value of the asset in so far as it is attributable to rentals payable under the lease,

the disposal value is to be determined as if the arrangements had not been entered into.

(2)Subsection (1) does not apply if—

(a)the arrangements take the form of a transfer of relevant receipts within section 809AZA of ITA 2007 and the relevant amount has been treated as income under section 809AZB of that Act, or

(b)the arrangements take the form of a transfer of relevant receipts within section 752 of CTA 2010 and the relevant amount has been treated as income under section 753 of that Act.]

Textual Amendments

F1S. 64A inserted (8.4.2010) (with effect in accordance with Sch. 5 para. 3(2) to the amending Act) by Finance Act 2010 (c. 13), Sch. 5 para. 3(1)

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