SCHEDULES
SCHEDULE 32Tonnage tax: restrictions on capital allowances for lessors of ships
Consequential amendments
2
1
In paragraph 41(4) of that Schedule (the requirement not to enter into tax avoidance arrangements: exemption for finance leases)—
a
in the first sentence omit “finance”;
b
for the second sentence substitute— “
In this sub-paragraph “lease”, and “lessor” in relation to a lease, have the meaning given by paragraph 89(2).
”
.
2
In paragraph 147 (index of defined expressions)—
a
omit the entry for “finance lease (and lessor and lessee) (in Part X)”;
b
insert at the appropriate place—
lease (and lessor and lessee) (in Part X)
paragraph 89(2)