Finance Leasing Manual - FLM31.64

Fourth condition: periods of account split by 26 November 1996

The legislation does not specify a method for the allocation of accountancy rental earnings to the deemed periods of account split by 26 November 1996 (see FLM31.59) for the purpose of the fourth condition in Paragraph 3(4) Schedule 12 FA 1997. In practice any allocation should be made on a time basis over the period of the lease falling in those periods of account unless some more accurate method is available.