Commencement Information
I1Sch. 5 Pts. I-III in force and has effect as mentioned in s. 38.
54(1)Section 53 of the Capital Allowances Act 1990 (expenditure incurred by equipment lessor) is amended as follows.
(2)In subsection (1)(b) omit “or for leasing otherwise than in the course of a trade".
(3)For subsection (1)(bb) substitute—
“(bb)the equipment lessee is within the charge to tax in the United Kingdom on the profits of the trade for the purposes of which he has entered into that agreement, and”.
(4)In subsection (1B)(a) for “ “course of a trade"" substitute “ “by the equipment lessee" ”.