Commentary

B5.414 Leases—anti-avoidance provisions for assets other than land: hire-purchase arrangements

Business tax
Business tax | Commentary

B5.414 Leases—anti-avoidance provisions for assets other than land: hire-purchase arrangements

Business tax | Commentary

B5.414 Leases—anti-avoidance provisions for assets other than land: hire-purchase arrangements

Certain modifications are required in applying the rules in CTA 2010, s 874 and ITA 2007, s 681DD (see B5.411) to hire-purchase agreements1. The modifications are relevant where CTA 2010, s 873(6)–(7) or ITA 2007, s 681DC(6)–(7) do not already prevent the rules from applying2.

A 'hire-purchase agreement' for this purpose is an agreement under which goods are hired in return for periodical payments by the person to whom they are hired and under which the property in the goods will pass to that person (subject to compliance with the terms

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