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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: Back loaded leases: second condition - post-25 November 1996 scheme

A ‘post-25 November 1996 scheme’ is defined in CTA10/S930(1) as the lease of an asset which is not an ‘pre-26 November 1996 scheme’. CTA10/S903(2)-(3) then define an existing scheme. A lease counts as an ‘pre-26 November 1996’ if there was a written contract for the lease prior to 26 November 1996 and it further satisfies one or other of two requirements (see BLM74635 and BLM74640).