(1) The Principal Act is amended -
(a) in section 76A(2) by substituting "Schedule 17A shall apply to a company as respects any matter related to the computation of income of the company where as respects that matter" for "Schedule 17A shall apply to a company where",
(b) by inserting the following after section 76C:
"Computation of income from finance leases.
(1) In this section 'finance lease' means a lease which, under generally accepted accounting practice, falls to be treated as a finance lease.
(2) Notwithstanding section 76A and subject to section 80A, for the purposes of computing income of a company from a trade of leasing, income of a lessor from a finance lease -
(a) shall not be the amount of income from the lease computed in accordance with generally accepted accounting practice, and
(b) shall be computed, subject to the provisions of the Corporation Tax Acts other than section 76A, by treating -
(i) lease payments receivable in respect of the lease as trading receipt
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