Section 614BU — Income Tax Act 2007: Capital allowances deductions: waste disposal and cemeteries

Capital allowances deductions: waste disposal and cemeteries 614BU 1 This section applies if any deduction is or has been allowed to the current lessor (“L”) in respect of capital expenditure incurred in connection with the leased asset as a result of—

a section 165 or 168 of ITTOIA 2005 (preparation and restoration expenditure in relation to waste disposal site), or b section 170 of that Act (cemeteries and crematoria: deduction for capital expenditure).

2 L is treated as if trading receipts arose to L from the trade in question on the relevant occasion.

3 The amount of those receipts is equal to the lesser of—

a the amount or value of the major lump sum, and b the deductions previously allowed.