Commentary

B5.408 Lessees under long funding finance leases

Business tax
Business tax | Commentary

B5.408 Lessees under long funding finance leases

Business tax | Commentary

B5.408 Lessees under long funding finance leases

A person who incurs expenditure (whether or not of a capital nature) on the provision of plant or machinery for the purpose of a qualifying activity under a long funding lease is treated as the owner of that plant or machinery and as having incurred capital expenditure on its provision at the commencement of the lease1.

This means that a lessee satisfies the conditions for claiming capital allowances on that expenditure. The amount of expenditure that the lessee is treated as incurring depends upon whether the lease is a long funding finance lease or

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