Section 681DB — Income Tax Act 2007: Payment under lease

Payment under lease 681DB 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 681CC (leased trading assets: tax deductions)—

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

3 Condition A is not met if section 865 of CTA 2010 (provision for corporation tax corresponding to section 681CC)—

a applies to the payment, or b would apply to it but for its being excluded under section 866 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.