Commentary

B3.340B Plant or machinery provided by lessee

Business tax
Business tax | Commentary

B3.340B Plant or machinery provided by lessee

Business tax | Commentary

B3.340B Plant or machinery provided by lessee

As indicated in B3.305, there are provisions which deal with the rare circumstances in which a lessee has to provide plant or machinery under the terms of a lease but does not own it.

The provisions apply if1:

  1.  

    •     under the terms of a lease, a lessee is required to provide plant or machinery

  2.  

    •     the lessee incurs capital expenditure on the provision of that plant or machinery for the purposes of a qualifying activity which the lessee carries on

  3.  

    •     the plant or machinery is not so installed or otherwise fixed in or

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