Market leading insight for tax experts
View online issue

The accounting and tax treatment of leased chattels

In this comprehensive back to basics article, Robert Harness provides an overview of both the accounting and tax treatment of leased chattels and a summary table of the key differences.

Even seasoned advisers struggle with the taxation of leases and it’s not surprising. The leasing rules represent one of the most complex areas of UK tax legislation even before the extensive ‘special’ requirements – for real property leases fixtures mixed leases manufacturer and dealer leases sale and leaseback transactions overseas leasing and so on – have been considered.

However once the principles behind the legislation are appreciated the general treatment of most chattels’ leases may be readily understood.

Accounting for lease contracts

I first summarise the accounting principles applicable to lease transactions. For...

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
EDITOR'S PICKstar
Top