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HMRC internal manual

Business Leasing Manual

HM Revenue & Customs
, see all updates

Taxation of leases that are not long funding leases: finance lessees: general issues: examining the lease agreement

Information that might be extracted from the lease includes

  • the terms, particularly information on rentals and options, that will affect how the lease is classified for accountancy and whether or not the lease is a long funding lease - see BLM32020
  • the structure of the lease - its possible effects, notably on timing of deduction for rents - see BLM32025
  • why the leasing transaction has been undertaken - see BLM32030.