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HMRC internal manual

Business Leasing Manual

Introduction: Lease taxation: Finance leases and loan relationship legislation

Although a finance lease rental payment can be analysed, for economic and accountancy purposes, into ‘interest’ and ‘capital’, for tax purposes it normally constitutes a single revenue item. The ‘interest’ element (that is, the part of the rental which is accounted for as if it were interest) is not within the loan relationships legislation (see CFM30000).