Section 359 — Corporation Tax Act 2010: Overview of Chapter

Overview of Chapter 359 1 This Chapter makes provision about the calculation for corporation tax purposes of the profits of companies which are—

a lessors of plant or machinery under long funding finance leases (see sections 360 to 362),

b lessors of plant or machinery under long funding operating leases (see sections 363 to 369),

c lessees of plant or machinery under long funding finance leases (see sections 377 and 378), or d lessees of plant or machinery under long funding operating leases (see sections 379 and 380).

2 Sections 370 to 376 make provision about cases where sections 360 to 369 are not to apply.

3 For the meaning of expressions used in this section and in this Chapter generally, see section 381 and, in particular—

a subsection (1) of that section (which provides for the application of Chapter 6A of Part 2 of CAA 2001 (interpretation of provisions about long funding leases) to this Chapter),

and b subsections (2) and (3) of that section (which specify the provisions of that Chapter in which some expressions used in this Chapter are defined).