Finance Leasing Manual - FLM33.21

CGT disposal not of asset outright

Paragraph 12 Schedule 12 FA 1997 also makes provision for the deduction of cumulative accountancy rental earnings from capital gains disposal proceeds in less straightforward circumstances than the outright disposal of the leased asset by the lessor. Those circumstances are:

• part disposals of the leased asset (see FLM33.22);

• disposals (or part disposals) of an asset 'representing' the leased asset (see FLM33.23).