BLM20505 | Funding leases that are not long funding lease: Funding leases that are not long funding leases: CAA01/S70G: outline

As explained at BLM20105, a long funding lease is a plant or machinery lease that is a funding lease which is not

• a short lease (see BLM20510)

• an excluded lease of background plant or machinery for a building (see BLM21305 onwards)

• excluded because it is a lease of plant with land and the plant has a low percentage value (see BLM21600).

There is a further exclusion where the lease is of a qualifying ship to a tonnage tax company (FA00/SCH22/PARA91A).