{
  "url": "https://openlegislation.uk/finance-act-2009/schedule-61/paragraph-14",
  "json_url": "https://openlegislation.uk/finance-act-2009/schedule-61/paragraph-14.json",
  "legislation": "ukpga/2009/10",
  "legislation_title": "Finance Act 2009",
  "legislation_url": "https://openlegislation.uk/finance-act-2009",
  "path": "schedule/61/paragraph/14",
  "kind": "paragraph",
  "number": "14",
  "heading": null,
  "text": "(1) This paragraph applies to an asset if—\n(a) each of conditions A to C is met before the end of the period of 30 days beginning with the effective date of the first transaction, and\n(b) the asset falls within sub-paragraph (2).\n(2) An asset falls within this sub-paragraph if it is part of the subject matter of the first transaction and constitutes—\n(a) plant or machinery, or\n(b) a building or structure (or part of a building or structure).\n(3) For the purposes of CAA 2001—\n(a) expenditure incurred by Q in acquiring the asset by virtue of the first transaction is not to be regarded as capital expenditure, and\n(b) in a case within sub-paragraph (2)(a), Q is not to be regarded as becoming, and P is not to be regarded as ceasing to be, the owner of the asset by virtue of that transaction; and\n(c) in a case within sub-paragraph (2)(b), Q is not to be regarded as acquiring, and P is not to be regarded as ceasing to have, the relevant interest in the asset by virtue of that transaction.\n(4) Sub-paragraph (3) applies in relation to the transactions mentioned in sub-paragraph (5) as it applies in relation to the first transaction (but reading the references to Q as references to P and the reference to P as a reference to Q).\n(5) The transactions are—\n(a) any leaseback agreement entered into by Q and P in order that condition C is met, and\n(b) the second transaction.\n(6) This paragraph is subject to paragraphs 15 to 17.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 61 para. 14(2)(b) substituted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 8(2)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 61 para. 14(3)(b) inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 8(2)(b)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Sch. 61 para. 14(3)(c) and preceding word inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 8(2)(c)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/10/schedule/61/paragraph/14",
    "retrieved_at": "2026-10-29T09:11:08.872832+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."
}