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HMRC internal manual

Business Leasing Manual

From
HM Revenue & Customs
Updated
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’Income-into-capital’ schemes and back loaded leases: Back loaded leases: first condition - lease granted on or after 26 November 1996

In practice this condition will have limited independent significance. If a lease is part of a ‘post-25 November 1996 scheme’ (the second condition) it is extremely likely that the lease will have been granted on or after 26 November 1996. And if the lease is not part of a ‘post-25 November 1996 scheme’, Chapter 3 of Part 21 of CTA 2010 will not in any event apply since all the conditions have to be satisfied.

You should resist any contention that a lease which is admittedly a ‘post-25 November 1996 scheme’ was granted prior to 26 November 1996.