Commentary

B3.340ZA Long funding leases of plant and machinery—background plant or machinery

Business tax
Business tax | Commentary

B3.340ZA Long funding leases of plant and machinery—background plant or machinery

Business tax | Commentary

B3.340ZA Long funding leases of plant and machinery—background plant or machinery

Leases of background plant or machinery for a building cannot be long funding leases1.

The Treasury has made an Order2 which contains lists.

List A contains prescribed examples of the kinds of plant or machinery that may be regarded as falling within the definition of background plant or machinery for a building3:

  1.  

    •     Heating and air conditioning installations

  2.  

    •     Ceilings which are part of an air conditioning system

  3.  

    •     Hot water installations

  4.  

    •     Electrical installations that provide power to a building, such as high and low voltage switchgear, all sub-mains distribution

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