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HMRC internal manual

Business Leasing Manual

HM Revenue & Customs
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’Income-into-capital’ schemes and back loaded leases: 'Income-into-capital' schemes: Purchase options: cases with no sale-and-leaseback

In some cases the Bank group will buy a new (or second-hand) asset which the Borrower group hasn’t previously owned or had any interest in. For example, the Bank might buy the freehold in a new office block from a builder. This will be at the direction of the Borrower who wants to use the offices in its trade etc. So there is a lease but no sale and leaseback; otherwise the general object is the same.