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The Investment Allowance and Cluster Area Allowance (Investment Expenditure) Regulations 2017
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- UK Statutory Instruments
- 2017 No. 292
- Regulation 5
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Excluded expenditure: receipt of lease amounts
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5.—(1) For the purposes of these Regulations, expenditure is only investment expenditure to the extent that it exceeds the total amount received by the company and its associated companies in respect of any qualifying leases other than—
(a)amounts received from the lessee (including a sublessee) where the parties to a qualifying lease are associated companies; or
(b)amounts previously set against expenditure under this paragraph which would have been relievable investment expenditure(1) but for this regulation.
(2) In paragraph (1), “qualifying lease” means a lease to which the company or any associated company is, or was, party as lessee (including as sublessee) and in respect of which investment allowance or cluster area allowance has been generated by the company or any associated company by incurring leasing expenditure, or would have been generated but for this regulation.
(1)
Sections 332C(3) and 356JF(3) of the Corporation Tax Act 2010 set out when investment expenditure is relievable.
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