Corporation Tax Act 2010 section 934

Assets which represent the leased asset

Section 934 defines which assets are treated as representing a leased asset, so that transactions involving those assets are treated as transactions involving the leased asset itself.

• Any asset derived from or created out of the leased asset is treated as representing it.
• Any asset that was the original source from which the leased asset was derived or created also counts as representing it.
• Any asset derived from or created out of such a source asset is likewise treated as representing the leased asset.
• Any asset that derives the whole or a substantial part of its value from the leased asset, or from another asset that itself represents the leased asset, is also caught.