BIM61265 - Leasing: avoidance: assets other than land: SP3/91

The statutory rules in ICTA88/S782 are applied after other rules determining deductions have been taken into account. The rules governing tax deductions for rentals paid under finance leases set out in SP3/91 (see BIM61105 onwards) must be applied first.

It should be noted that an adjustment under ICTA88/S782 does not affect the liability of the recipient of a payment under a lease.