Corporation Tax Act 2009 section 854

Finance leasing etc

Section 854 gives the Treasury power to make regulations that bring finance-leased intangible assets within the intangible fixed assets tax regime from the lessor's perspective.

• The Treasury may make regulations governing how this Part of the Act applies to a company that is the finance lessor of an intangible asset subject to a finance lease.
• A finance lease carries its standard accounting meaning and also includes hire-purchase, conditional sale, and other arrangements of a similar character.
• The terms finance lessor and finance lessee take corresponding meanings derived from the definition of finance lease.
• Any regulations made under this section may be backdated to take effect from 1 April 2002.