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Taxes Consolidation Act 1997 section 403
Restriction on use of capital allowances for certain leased assets
Section 403 ring-fences capital allowances arising from leasing machinery or plant so that losses attributable to those allowances can be set off only against leasing income or certain closely related income, and not against general profits or gains of the business or group. Note: as accelerated capital allowances were generally withdrawn in 1992, this section is largely spent in practice.
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