Section 62 | Cluster area allowance: disqualifying conditions

(1)Section 356JFA of CTA 2010 (expenditure on acquisition of asset: disqualifying conditions) is amended as follows.

(2)In subsection (2) after “acquiring,” insert “ leasing, ”.

(3)In subsection (3)(b) after “acquiring,” insert “ leasing, ”.

(4)After subsection (4) insert—

(5)In this section any reference to expenditure which was incurred by a company in “leasing” an asset is to expenditure incurred by the company under an agreement under which the asset was leased to the company.

(5)The amendments made by this section have effect for the purposes of determining whether any expenditure incurred by a company on or after 16 March 2016 on the acquisition of an asset is relievable expenditure for the purposes of section 356JF of CTA 2010.