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Plant and machinery long fund leases: draft anti-avoidance legislation

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Proposed amendments to CAA 2001 will ensure that rules for calculating the lessee’s disposal value at the end of a long funding lease ‘operate as intended so that the relief available by way of capital allowances does not exceed the net expenditure of the lessee not otherwise relieved’. They will apply where the ‘relevant event’ occurs on or after 21 March 2012.

Draft legislation is provided on the HMRC website.