FA07/Sch12/Part I is aimed at finance leases that are capable
of allowing the lessor (or a connected person) to get back any of
the return on the lessor's outlay as a capital sum, rather than
rental income.
A Part I lease (see
BLM70410) is one which simultaneously
satisfies the five conditions set out in Paragraph 3 of the
Schedule (see
BLM70415). Once it has satisfied those
conditions it remains within Part I until it is terminated or
assigned to (broadly) an unconnected person.
