Commentary

B3.340Z Long funding leases of plant and machinery—election by lessor to treat a lease as a long funding lease

Business tax
Business tax | Commentary

B3.340Z Long funding leases of plant and machinery—election by lessor to treat a lease as a long funding lease

Business tax | Commentary

B3.340Z Long funding leases of plant and machinery—election by lessor to treat a lease as a long funding lease

Regulations1 set out the conditions under which a lessor may elect to treat all his eligible leases and qualifying incidental leases as long funding leases in circumstances where they would not be so treated. An election does not affect the lessee under the lease.

An eligible lease is one which satisfies the following conditions2:

  1.  

    •     It must be a lease of plant or machinery

  2.  

    •     It must not be a long funding lease

  3.  

    •     The term of the lease must be at least 12

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