BLM20025 - Defining long funding leases: introduction list of legislation in CTA2010, ITTOIA 2005 and ICTA1988
CTA 2010 | ITTOIA 2005 | ICTA 1988 (Historic) | |
---|---|---|---|
LFFL: Lessor : rental earnings | S360 | S148A | S502B |
LFFL: lessor: exceptional items | S361 | S148B | S502C |
LFFL: Lessor: termination payment | S362 | S148C | S502D |
LFOL: Lessor: periodic deduction | S363 | S148D | S502E |
“Starting value”: general | S364 | S148DA | - |
“Starting value”: p&m originally unqualifying | S365 | S148DB | - |
LFOL: Lessor: additional expenditure by | SS366-368 | S148E | S502F |
LFOL: Lessor: termination of lease | S369 | S148F | S502G |
P&M held as trading stock | SS370-371 | S148FA | S502GA |
Lessor also lessee under non-LFL | S372 | S148FB | S502GB |
Other Avoidance | SS373-375 | S148FC | S502GC |
Films | S376 | S148FD | S502GD |
Insurance company as lessor | - | - | S502H |
LFFL: Lessee: limit on deduction | S377 | S148G | S502I |
LFFL: Lessee: termination | S378 | S148H | S502J |
LFOL: Lessee | SS379-380 | S148I | S502K |
Interpretation | S381 | S148J | S502L |
Notes:
- Section 502H ICTA 1988 (Insurance company as lessor) repealed from 1 April 2008.
- LFFL = Long Funding Finance Lease
- LFOL = Long Funding Operating Lease
- LFL = Long Finding Lease