Where
the lease will be a long funding lease unless it is what is
known as an excepted lease (and assuming, of course, that it meets
the requirements of CAA01/S70G).
Broadly speaking an excepted lease is a lease that was
planned and agreed to in principle (but not finalised) by 21 July
2005 and which was finalised and had commenced by 1 April 2007 in
roughly the form envisaged on 21 July 2005. In some cases the time
limit is extended to 1 April 2009. Further guidance is at
BLM23030.
Where the term of a lease of plant or machinery began before
1 April 2006 and that plant or machinery is brought into use for a
qualifying activity on or after 1 April 2006 see
BLM23020. This will most often happen
where a lessor or lessee moves to the UK, but could happen in other
circumstances.
