Assets leased abroad

April 1993
Accountancy;Apr93, Vol. 111 Issue 1196, p21
Trade Publication
This article reports on the budgetary changes to the capital allowance provisions that limit allowances for machinery and plants leased to non-British residents and no liable to British tax. The first makes it clear that allowances at only 10% can be claimed for assets leased to British branches of foreign firms, and the other removes ambiguity about assets leased abroad after domestic use. The changes apply to assets leased on or after March 16, 1993.


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