Section 614BU | Capital allowances deductions: waste disposal and cemeteries

(1)This section applies if any deduction is or has been allowed to the current lessor (“L”) in respect of capital expenditure incurred in connection with the leased asset as a result of—

(a)section 165 or 168 of ITTOIA 2005 (preparation and restoration expenditure in relation to waste disposal site), or

(b)section 170 of that Act (cemeteries and crematoria: deduction for capital expenditure).

(2)L is treated as if trading receipts arose to L from the trade in question on the relevant occasion.

(3)The amount of those receipts is equal to the lesser of—

(a)the amount or value of the major lump sum, and

(b)the deductions previously allowed.