Corporation Tax Act 2010 (c. 4)

Part 19 U.K. Sale and lease-back etc

Chapter 3 U.K. Leased trading assets

Interpretation U.K.

868 Lease U.K.

(1) This section applies for the purposes of this Chapter.

(2) A lease is (in relation to an asset) an agreement or arrangement under which payments are made for the use of or otherwise in respect of the asset.

(3) In particular it includes an agreement or arrangement under which the payments (or any of them) represent instalments of a purchase price or payments towards it.

869 Relevant asset U.K.

For the purposes of this Chapter a relevant asset is any description of property or rights other than land or an interest in land.