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Leasing taxation - is it really reform?

Category Technical Articles
AuthorTechnical Department
Article by Derek Jenkins, tax partner, and Jeremy Rayner, tax director, PwC. This article appeared in the June 2006 issue of Tax Adviser.
On 31 March 2006, HMRC published the latest in a series of Technical Notes setting out proposals for the reform of the corporation tax treatment of leases. This process started in 2002 with the publication of a consultation document looking at the reform of the corporation tax system, including the possible abolition of capital allowances in favour of a tax deduction for accounting depreciation.

This article considers the proposed changes, the drivers for changes and how far they are indeed a reform of the existing system.

Technical Department
020 7235 9381

June 2006 by Derek Jenkins and Jeremy Rayner


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