83 Restrictions on use of losses etc: leasing partnerships
Finance Act 2006 (2006 c 25) | Legislation

83  Restrictions on use of losses etc: leasing partnerships

(1)     . . .

(2)     . . .

(3)     After section 261 of CAA 2001 (special leasing: life assurance business) insert—

“261A Special leasing: leasing partnerships

(1)     This section applies for corporation tax purposes if—

(a)     a company carries on a business in partnership with other persons in a chargeable period of the partnership,

(b)     the business (“the leasing business”) is, on any day in that period, a business of leasing plant or machinery,

(c)     the company is entitled to an allowance under section 19 (special

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