Sale of lessor companies and similar arrangements: partnerships: Leased out plant or machinery - identifying an ‘associate’ and a ‘qualifying associate’
Section 410 CTA2011
Plant or machinery is leased out plant or machinery if it has been leased out by the partnership or a qualifying associate.
An ‘associate’ is:
- a person who is a partner in the partnership;
- any person who is connected with a partner in the partnership;
where any partner company is owned by a consortium:
- any member of the consortium; and
- any person connected with such a member.
A person is a ‘qualifying associate’ if the person is an associate at the start of the day or at any time in the preceding 12 months.
See BLM81045 for an example.