OT50036 | Oil contractors ring fence: calculating the hire cap: multiple leases

It is possible that the same asset will be the subject of more than one lease with different lessors. Where this occurs, the total amount available for deduction cannot exceed the amount that would have been available had there been a single lessor (CTA2010\S356N(4)).

Such arrangements are not thought to be common. If multiple arrangements have been entered into with a view to increase the amount of the hire cap, the anti avoidance rules at CTA2010\S356NA will also be in point (see OT50060).