116 Mitigation of regime
Capital Allowances Act 2001 (2001 c 2) | Legislation

Application of Chapter in relation to joint lessees

116  Mitigation of regime

(1)     This section applies if—

(a)     plant or machinery is leased to two or more persons jointly,

(b)     at least one of them is a person who—

(i)     is not resident in the United Kingdom, and

(ii)     does not use the plant or machinery exclusively for earning profits chargeable to tax, and

(c)     the leasing is not protected

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