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HMRC internal manual

Business Leasing Manual

’Income-into-capital’ schemes and back loaded leases: Back loaded leases: second condition - terms of contract unconditional at 26/11/96

The first requirement (see BLM74635), which is unlikely to cause difficulty in practice, is that:

  • no terms of the contract remain to be settled on or after 26 November 1996; and
  • either the contract is unconditional; or, where contract is conditional, the conditions have been satisfied before that date.