Speed Read: FA 2010 Sch 5 enacted specific capital allowance anti avoidance measures designed to target certain leasing transactions. The legislation targets transactions where the taxable income of the lessor could be less than the entitlement to capital allowances, or less than the rebate paid and deducted for tax purposes. The principal legislation operates to restrict qualifying expenditure for a lessor to its taxable lease income that is expected to be brought into the charge to tax together with any net receipts from the residual value of the asset. The legislation took effect from 9 December 2009.
