Section 809ZF | Further interpretation of section 809ZA etc ^F1

(1)This section applies for the purposes of sections 809ZA to 809ZE and this section.^F1

(2)“Lease” includes—^F1

(a)a licence, and^F1

(b)the letting of a ship or aircraft on charter or the letting of any other asset on hire,^F1

and “lessor” and “lessee” must be read accordingly.

(3)“Lease of plant or machinery” includes a lease of plant or machinery and other property, but does not include a lease to which subsection (4) or (5) applies.^F1

(4)This subsection applies to a lease if any income attributable to it and received by the lessor would be chargeable to tax under Part 3 of ITTOIA 2005 (property income).^F1

(5)This subsection applies to a lease of plant or machinery if the lessor has incurred on the plant or machinery what would be qualifying expenditure within the meaning of Part 2 of CAA 2001 but for section 34A of that Act (expenditure on plant or machinery for long funding leasing not qualifying expenditure).^F1

(6)“Relevant arrangement” means any agreement or arrangement relating to a lease of plant or machinery, including one made before the lease is entered into or after it has ended.^F1

(7)Accordingly, “lessor” and “lessee” include prospective and former lessors and lessees.^F1