BLM00005 - Introduction: Leasing: Scope of this manual
This manual is being updated to reflect FRS 102 (2024 amendments). For guidance on the tax treatment of accounts prepared under IFRS 16 or the revised FRS 102, please refer to pages within the BLM50000 chapter.
This manual provides guidance on the taxation of leasing transactions, particularly those involving plant or machinery.
In common with many other aspects of taxation the taxation of many leasing transactions depends wholly or in part on the accounting treatment.
This manual therefore gives guidance on lease accounting but it does not attempt to replicate the level of detail that might be found in accounting textbooks.