Part 13Tax avoidance
F1Chapter 6Avoidance involving leases of plant and machinery
Annotations:
Amendments (Textual)
809ZDSection 809ZA: expectation that relevant capital payment will not be paid
1
This section applies for income tax purposes if—
a
section 809ZA applies by virtue of subsection (1)(a) of that section, and
b
at any time, the lessor reasonably expects that the relevant capital payment will not be paid (or will not be paid in full).
2
For the purposes of calculating the profits of the lessor, a deduction is allowed for the period of account which includes that time.
3
The amount of the deduction is equal to the amount reasonably expected not to be paid.
4
No other deduction is allowed in respect of the matters mentioned in subsection (1).
Pt. 13 Ch. 6 inserted (21.7.2008 with effect in accordance with Sch. 20 para. 2(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 20 para. 2(1) (with Sch. 20 para. 2(3))