Legislation was introduced in Finance Act 2006 to address a perceived anomaly between the tax treatment of loan finance and leasing finance. The commercial effect of the two methods of financing could be very similar (a business uses an asset which is financed by a third party) but there were often significant differences in the timing of tax relief for expenditure incurred. The stated view was that commercial decisions were being distorted, and sometimes driven, by the differing tax treatments.

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