Current Issues

Making it easier for business to lease

We are calling for the International Accounting Standards Board (IASB) to keep their proposed new lease accounting rules simple, to avoid unnecessary costs for relevant lessees. The UK’s Accounting Standards Board and HM Revenue and Customs (HMRC) also need to ensure that changes to accounting and tax rules for small and medium-sized companies subsequent to the launch of the IASB’s new rules are well-designed.

Additionally any measures put in place by HMRC to combat tax avoidance should be designed to avoid any detrimental impact on genuine leasing activities.

Making it easier for public authorities to lease

We are calling for clearer guidance and rules to help public authorities, including schools and hospitals, to make successful use of leasing.  Public authorities should not be obliged to use only shorter-term (operating) leases where longer-term (finance) leases offer better value.

Making it easier for leasing companies to offer good deals

Planned changes to financial sector regulation - including new capital requirements rules, ring-fencing of banks, shadow banking and a possible financial transactions tax - need to avoid imposing unnecessary expense or restrictions on lessors.  We are working with the relevant regulators to help ensure that the new regulations are well-designed.