{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-148J",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-148J.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/148J",
  "kind": "section",
  "number": "148J",
  "heading": "Interpretation of Chapter 10A",
  "text": "(1) This section has effect for the interpretation of this Chapter.\n(2) In this Chapter—\n“qualifying activity” has the same meaning as in Part 2 of CAA 2001;\n“residual value”, in relation to any plant or machinery leased under a long funding operating lease, means—\n(a)the estimated market value of the plant or machinery on a disposal at the end of the term of the lease,\nless\n(b)the estimated costs of that disposal.\n(3) Any reference in this Chapter to a sum being written off on a straight line basis over a period of time (the “writing-off period”) is a reference to—\n(a) the sum being apportioned between each of the periods of account in which any part of the writing-off period falls,\n(b) that apportionment being made on a time basis, according to the proportion of the writing-off period that falls in each of the periods of account, and\n(c) the sum being written off accordingly.\n(4) Chapter 6A of Part 2 of CAA 2001 (interpretation of that Part so far as relating to long funding leases) also applies for the purposes of this Chapter.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 2 Ch. 10A, (ss 148A-148J) inserted (19.7.2006) by Finance Act 2006 (c. 25), s. 81, Sch. 8 para. 13"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/148J",
    "retrieved_at": "2026-10-29T09:16:32.370392+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."
}