Beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Business Leasing Manual

Taxation of leases that are not long funding leases: sale and leaseback: leased assets made subject to a new finance lease

Where assets which are already finance-leased (rather than owned outright) are made subject to a new finance lease between the parties to the original lease, the accounting treatment should not cause any difficulties for tax purposes.

If, however, you come across a situation where a re-financing exercise appears to give a tax advantage you should seek advice from CTIS (CT&BIT).