BIM46805 - Specific deductions: rent & rates: leasing

Guidance on:

• The commercial background and accountancy treatment of leasing is at BIM61000 onwards.
• Schedule D tax treatment of finance leases is at BIM61100 onwards.
• Anti-avoidance legislation in ICTA88/S781 - ICTA88/S785 (leased assets other than land) is at BIM61200 onwards.
• Anti-avoidance legislation in ICTA88/S779 - ICTA88/S780 (sale and leaseback of land) is at BIM61300 onwards.
• Anti-avoidance legislation in FA97/SCH12 (back-loaded leases and ‘income-into- capital’ schemes) is in the Finance Leasing Manual at FLM27.01 onwards.
• Income from property is in the Property Income Manual (PIM).