Capital Allowances Act 2001 section 118

Certificate relating to protected leasing

Section 118 requires a certificate to accompany claims for writing-down or first-year allowances where plant or machinery has been used for overseas protected leasing before the expenditure has qualified for a normal allowance.

• Where plant or machinery is used for overseas protected leasing before the related expenditure has qualified for a normal writing-down allowance, any claim for a writing-down allowance must be accompanied by a certificate.
• The certificate must state the type of protected leasing involved, the identity of the person to whom the plant or machinery has been leased, and (where the certificate relates to a chargeable period) all items of plant or machinery relevant to that period.
• The certificate requirement also applies to claims for first-year allowances, not just writing-down allowances.
• The requirement continues to apply where the use for protected leasing takes place after the expenditure has qualified for one allowance but before it qualifies for another.