s 110 Cases where allowances are prohibited
(1) A person is not entitled to any writing-down or balancing allowances in respect of qualifying expenditure which is within subsection (2). (2) Expenditure is within this subsection if— (a) it is incurred on the provision of plant or machinery for leasing, (b) the plant or machinery is at any time in the designated period used for overseas leasing which is not protected leasing, (c) the plant or machinery is used otherwise than for a qualifying purpose (see sections 122 to 125), and (d) the lease is within any of the items in the list below. Leases in relation to which allowances are prohibited (3) In items 4 and 5 of the list “ collateral agreement ” means an agreement which might reasonably be construed as being collateral to the lease.