Section 388 — Corporation Tax Act 2010: “Relevant plant or machinery value” for condition A in section 387

“Relevant plant or machinery value” for condition A in section 387 388 1 This section applies for the purposes of condition A in section 387.

2 The relevant plant or machinery value is the sum of the amounts in subsection (3), but subject to section 390 (relevant plant or machinery value where relevant company lessee under long funding lease etc).

3 The amounts are—

a the amounts (if any) that would be shown in respect of plant or machinery in the appropriate balance sheet of the relevant company drawn up as at the start of the relevant day, and b the amounts (if any) that would be shown in the appropriate balance sheet of the relevant company drawn up as at the end of the relevant day in respect of relevant transferred plant or machinery.

4 For the purposes of subsection (3)(b) plant or machinery is “relevant transferred plant or machinery” if an amount in respect of it would be shown in the appropriate balance sheet of an associated company drawn up as at the start of the relevant day.

5 This section is supplemented by section 389.