Finance Act 2012

Amendment of section 80A (taxation of certain short-term leases plant and machinery) of Principal Act.

40.— (1) Section 80A of the Principal Act is amended in subsection (1), in the definition of “specified assets”, by substituting “assets the predictable useful life of which does not exceed 8 years and which are” for “relevant short-term assets”.

(2) This section applies as respects accounting periods commencing on or after 1 January 2012.