Corporation Tax Act 2010 section 356LC

"Lease"

Section 356LC defines the term "lease" and related terms for the purposes of the ring fence trade provisions in Part 8ZA of the Corporation Tax Act 2010.

• The term "lease" carries the broad definition set out in section 868 of the Corporation Tax Act 2010.
• This wide definition covers not just conventional leases but a range of arrangements under which one party grants another the right to use an asset.
• The related terms "leased" and "leasing" are to be interpreted consistently with this same broad definition.
• This definition applies throughout Part 8ZA, ensuring a uniform meaning of lease-related terminology across the ring fence trade rules.