Section 681DB | Payment under lease

(1)Condition A is that—

(a)a payment is made under a lease of a relevant asset, and

(b)the payment is one for which a deduction by way of relevant tax relief is allowed.

(2)Condition A is not met if section 681CC (leased trading assets: tax deductions)—

(a)applies to the payment, or

(b)would apply to it but for its being excluded under section 681CD (long funding finance leases).

(3)Condition A is not met if section 865 of CTA 2010 (provision for corporation tax corresponding to section 681CC)—

(a)applies to the payment, or

(b)would apply to it but for its being excluded under section 866 of that Act (long funding finance leases).

(4)The reference in subsection (1)(a) to a lease does not include a lease created on or before 14 April 1964.