[148FC Cases where ss 148A to 148F do not apply: other avoidance]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[148FC  Cases where ss 148A to 148F do not apply: other avoidance]

[(1)     Sections 148A to 148F do not apply in the case of a person carrying on a trade who is or has been the lessor of any plant or machinery under a long funding lease if conditions A to C are met.

(2)     Condition A is that the long funding lease forms part of any arrangement entered into by the person which includes one or more other transactions (whether the arrangement is entered into before or after or at the inception of the lease).

(3)     Condition B is that the main purpose, or one of the main purposes, of the arrangement is to secure that, over the relevant period, there would be a substantial difference between—

(a)     the total amount of

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