229 Hire-purchase etc
Capital Allowances Act 2001 (2001 c 2) | Legislation

Miscellaneous and supplementary

229  Hire-purchase etc

(1)     This section applies if—

(a)     a person carrying on a qualifying activity incurs capital expenditure on the provision of plant or machinery for the purposes of the qualifying activity, and

(b)     the expenditure is incurred under a contract providing that the person shall or may become the owner of the plant or machinery on the performance of the contract.

(2)     If—

(a)     the person assigns the benefit of the contract to another before the plant or machinery

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