[F1809ZFFurther interpretation of section 809ZA etcU.K.
(1)This section applies for the purposes of sections 809ZA to 809ZE and this section.
(2)“Lease” includes—
(a)a licence, and
(b)the letting of a ship or aircraft on charter or the letting of any other asset on hire,
and “lessor” and “lessee” must be read accordingly.
(3)“Lease of plant or machinery” includes a lease of plant or machinery and other property, but does not include a lease to which subsection (4) or (5) applies.
(4)This subsection applies to a lease if any income attributable to it and received by the lessor would be chargeable to tax under Part 3 of ITTOIA 2005 (property income).
(5)This subsection applies to a lease of plant or machinery if the lessor has incurred on the plant or machinery what would be qualifying expenditure within the meaning of Part 2 of CAA 2001 but for section 34A of that Act (expenditure on plant or machinery for long funding leasing not qualifying expenditure).
(6)“Relevant arrangement” means any agreement or arrangement relating to a lease of plant or machinery, including one made before the lease is entered into or after it has ended.
(7)Accordingly, “lessor” and “lessee” include prospective and former lessors and lessees.]
Textual Amendments
F1Ss. 809ZE , 809ZF inserted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 551 (with Sch. 2)