BLM81043 - 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:

  1. a person who is a partner in the partnership;
  2. any person who is connected with a partner in the partnership;

where any partner company is owned by a consortium:

  1. any member of the consortium; and
  2. 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.