Corporation Tax Act 2010 section 863

Overview of Chapter

Section 863 provides an overview of the Chapter, which restricts corporation tax relief for certain payments made under leases of trading assets.

• This Chapter deals with situations where a payment is made under a lease of a trading asset.
• In certain circumstances, the corporation tax relief that would normally be available for such a lease payment is restricted.
• The term "lease" as used throughout this Chapter is specifically defined later in section 868.
• This overview section is introductory in nature and sets the scene for the detailed rules that follow in the rest of the Chapter.