# Corporation Tax Act 2010, Section 372: Lessor also lessee under non-long funding lease


(1) This section applies if—
(a) a company is the lessee of any plant or machinery under a lease (“lease A”),
(b) lease A is not a long funding lease,
(c) the company enters into a lease (“lease B”) of any of that plant or machinery (as lessor), and
(d) lease B is a long funding lease.
(2) Sections 360 to 369 do not apply in relation to lease B.
(3) This section must be treated as never having applied in relation to lease B if lease A—
(a) becomes a long funding lease as a result of section 70H of CAA 2001 (tax return by lessee treating lease as long funding lease), and
(b) has not ceased to be such a lease.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/372 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-372
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.