Corporation Tax Act 2010 section 889

Interpretation of Chapter

Section 889 defines the key terms used throughout this Chapter on leasing arrangements involving plant or machinery.

• "Lease" is defined broadly to include underleases, subleases, tenancies, licences, and agreements for any of these
• "Notional business" refers to a company's business whose profits or losses are calculated under the partnership rules in section 1259 of CTA 2009
• "Plant or machinery" carries the same meaning as in Part 2 of the Capital Allowances Act 2001
• "Relevant capital allowance" means a capital allowance under Part 2 of the Capital Allowances Act 2001 for expenditure on plant or machinery used wholly or partly for the leasing business