Section 872 — Corporation Tax Act 2010: Payment under lease

Payment under lease 872 1 Condition A is that—

a a payment is made under a lease of a relevant asset, and b the payment is one for which a deduction by way of relevant tax relief is allowed.

2 Condition A is not met if section 865 (leased trading assets: tax deductions)—

a applies to the payment, or b would apply to it but for its being excluded under section 866 (long funding finance leases).

3 Condition A is not met if section 681CC of ITA 2007 (provision for income tax corresponding to section 865)—

a applies to the payment, or b would apply to it but for its being excluded under section 681CD of that Act (long funding finance leases).

4 The reference in subsection (1)(a) to a lease does not include a lease created on or before 14 April 1964.