[70Q Leases excluded by right of lessor etc to claim capital allowances]
Capital Allowances Act 2001 (2001 c 2) | Legislation

[Leases excluded by right of lessor etc to claim capital allowances]

[70Q  Leases excluded by right of lessor etc to claim capital allowances]

[(1)     A lease is not a long funding lease in the case of the lessee if it is excluded by virtue of subsection (2) (but see also subsection (5)).

(2)     A lease is excluded if the lessor, or any superior lessor (see subsections (7) to (9)),—

(a)     is entitled, at the commencement of the term of the lease, to claim a relevant allowance (see subsection (6)),

(b)     would have been so entitled at that time, but for section 70V (tax avoidance involving international leasing),

(c)     has at any earlier time been entitled to claim such an allowance, but has not been

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