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HMRC internal manual

Business Leasing Manual

Funding leases that are not long funding lease: Funding leases that are not long funding leases: CAA01/S70G: outline

As explained at BLM20105, a long funding lease is a plant or machinery lease that is a funding lease which is not

  • a short lease (see BLM20510)
  • an excluded lease of background plant or machinery for a building (see BLM21305 onwards)
  • excluded because it is a lease of plant with land and the plant has a low percentage value (see BLM21600).

There is a further exclusion where the lease is of a qualifying ship to a tonnage tax company (FA00/SCH22/PARA91A).