[809ZFA Consideration for taking over payment obligations as lessee treated as income]
Income Tax Act 2007 (2007 c 3) | Legislation

[809ZFA  Consideration for taking over payment obligations as lessee treated as income]

[(1)     This section applies where under any arrangements—

(a)     a person within the charge to income tax (P) agrees to take over obligations of another person (Q) as lessee under a lease of plant or machinery,

(b)     as a result of that agreement P, or a person connected with P, becomes entitled to income deductions (whether deductions in calculating income or from total profits), and

(c)     a payment is payable to P, or a person connected with P, by way of consideration for that agreement.

(2)     The payment is treated for the purposes of income

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