Schedules

SCHEDULE 2Transitionals and savings etc

Part 10Leasing plant or machinery

Disapplication of provisions about cases where sections 360 to 369 do not apply

63

1

Sections 370 and 371 do not apply if—

a

expenditure is incurred before 9 October 2007, or

b

a company becomes entitled to a deduction in calculating its profits or losses for corporation tax purposes as a result of any plant or machinery forming part of its trading stock before that date.

2

Section 372 does not apply if the lease referred to as “lease B” in subsection (1)(c) of that section is entered into before 13 December 2007.

3

Sections 373 to 375 do not apply in relation to arrangements entered into before 9 October 2007.