https://www.taxtmi.com/caselaws?id=178970 For fixtures incorporated into a lessee's land, "belongs" in section 44 of the Finance Act 1971 required true ownership in law or equity, so retained contractual rights of removal or repossession were insufficient. The Finance Act 1985 regime in section 59 and Schedule 17 was treated as a comprehensive code for UK fixtures, displacing the former section 44 approach. Rights reserved by the taxpayers did not amount to an interest in land for paragraph 2, but paragraph 3 relief remained available to equipment lessors where the statutory conditions, including election, were satisfied, even if the end-user was tax-exempt. Timing of expenditure under the transitional rules depended on when liability was finally fixed on the facts. en-us Thu, 12 Oct 1995 00:00:00 +0530 Wed, 17 Feb 2016 11:17:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178970 For fixtures incorporated into a lessee's land, "belongs" in section 44 of the Finance Act 1971 required true ownership in law or equity, so retained contractual rights of removal or repossession were insufficient. The Finance Act 1985 regime in section 59 and Schedule 17 was treated as a comprehensive code for UK fixtures, displacing the former section 44 approach. Rights reserved by the taxpayers did not amount to an interest in land for paragraph 2, but paragraph 3 relief remained available to equipment lessors where the statutory conditions, including election, were satisfied, even if the end-user was tax-exempt. Timing of expenditure under the transitional rules depended on when liability was finally fixed on the facts. Case-Laws Income Tax Thu, 12 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178970