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HMRC internal manual

Business Leasing Manual

From
HM Revenue & Customs
Updated
, see all updates

Taxation of leases that are not long funding leases: finance lessees: termination adjustments: rental rebates - special cases

There is specific guidance on rental rebates for the following situations:

  • where a rental rebate is received in respect of a non-depreciating asset, see BLM32710
  • where fixtures are leased, see BLM34005 onwards.

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Before 1 April 2009 for companies and 6 April 2009 for individuals

  • where rebates are received of rentals under finance leases of motor cars costing over £12,000, see BIM47717

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On or after 1 April 2009 for companies and 6 April 2009 for individuals

  • from this date the amount of the rebate or reduction in rent which is taxable is reduced in the same manner as that described at BIM47717 but the criteria for application is instead based on the levels of CO2 emissions of the car in question.