Taxes Consolidation Act 1997 section 404

Restriction on use of capital allowances for certain leased machinery or plant

Section 404 ring-fences capital allowances on machinery or plant let under a "relevant lease" to income from that same lease, preventing lessors from using accelerated allowances to shelter income from unrelated activities.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.