TTM17541 - Schedule 22 Finance Act 2000: Part X the ring fence - capital allowances - ship leasing - Para 93 certificates required to support claim by finance lessor

FA00/SCH22/PARA93

(1) Any claim by the lessor under a lease for capital allowances in respect of expenditure on the provision of a qualifying ship must be accompanied by a certificate by the lessor and the lessee stating -

(a) that the ship is not leased, directly or indirectly, to a company subject to tonnage tax, or

(b) that neither paragraph 90 (defeased leasing) nor paragraph 92 (sale and lease-back arrangements) applies in relation to the lease (and, if the lease is one that would (apart from paragraph 91A) fall to be regarded as a long funding lease for the purposes of Part 2 of the Capital Allowances Act 2001, that paragraph 91A(2) has effect in relation to the lease.)

(2) If any matter so certified ceases to be the case, the lessor must give notice of that fact to the Inland Revenue.

(3) Any such notice must be given within three months after the end of the chargeable period in which the change takes place.

(4) (amend TMA 1970 S98 Table column 2).

References

Certification of ship leases	TTM10300