Capital Allowances Act 2001 section 19

Special leasing of plant or machinery

Section 19 defines "special leasing" of plant or machinery and explains how it operates as a qualifying activity for capital allowances purposes.

• Special leasing means hiring out plant or machinery where the hiring is not carried on as part of any other qualifying activity
• Each item of plant or machinery that is specially leased is treated as a separate qualifying activity in its own right
• The qualifying activity begins when the plant or machinery is first hired out and ends permanently when the lessor permanently ceases hiring it out
• Life assurance companies that hire out investment asset plant or machinery outside of a property business are treated as carrying on special leasing