Finance Leasing Manual - FLM32.16

Normal rent: Schedule A

The rules spreading rents within Schedule A for corporation tax for the purpose of Paragraph 3(4) Schedule 12 FA 1997 (see FLM31.68) do not apply for the purposes of Paragraph 5 Schedule 12. Instead the usual entitlement basis described in PIM 5040 applies. A rental to which the lessor becomes entitled at any time on 26 November 1996 is a rental of the period of account deemed to begin on that date (see FLM32.20)