Corporation Tax Act 2010 section 434

Introduction to sections 435 and 436

Section 434 explains when sections 435 and 436 apply, by defining three specific questions that can arise when there is uncertainty about the application of the anti-avoidance rules in Chapter 3 or Chapter 4 concerning sales of lessors of plant or machinery.

• Sections 435 and 436 are triggered whenever a question arises about the application of the sales of lessors rules in Chapter 3 or Chapter 4
• Question A asks whether a company carries on a business of leasing plant or machinery, either on its own or in partnership
• Question B asks what amount, if any, of income or expense a company is treated as receiving or incurring under the sales of lessors rules
• Question C asks what disposal value should be substituted under section 398G(3)