{
  "url": "https://openlegislation.uk/capital-allowances-act-2001/section-70B",
  "json_url": "https://openlegislation.uk/capital-allowances-act-2001/section-70B.json",
  "legislation": "ukpga/2001/2",
  "legislation_title": "Capital Allowances Act 2001",
  "legislation_url": "https://openlegislation.uk/capital-allowances-act-2001",
  "path": "section/70B",
  "kind": "section",
  "number": "70B",
  "heading": "Long funding operating lease: amount of capital expenditure",
  "text": "(1) This section applies by virtue of section 70A(6).\n(2) If the long funding lease is a long funding operating lease, the amount of the capital expenditure is the market value of the plant or machinery at the later of—\n(a) the commencement of the term of the lease;\n(b) the date on which the plant or machinery is first brought into use for the purposes of the qualifying activity.\n(3) This section is to be construed as one with section 70A.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 70A-70E and cross-heading inserted (with effect in accordance with Sch. 8 para. 15 of the amending Act) by Finance Act 2006 (c. 25), Sch. 8 para. 6"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2001/2/section/70B",
    "retrieved_at": "2026-10-29T09:20:17.739129+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}