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This manual is being updated to reflect FRS 102 (2024 amendments). For guidance on the tax treatment of accounts prepared under IFRS 16 or the revised FRS 102, please refer to pages within the BLM50000 chapter.

This page will be archived on 30 November 2025

»Ê¹ÚÌåÓýapp time limits in Conditions 3 and 4 in BLM23025 may be extended to 1 April 2009 if all the following conditions are met:

• Condition A: the lease term commences before 1 April 2009
• Condition B: the lease term commences as soon as reasonably practicable after construction of the asset is substantially complete
• Condition C: construction has proceeded continuously from 1 April 2006
• Condition D: construction has proceeded at the normal pace for an asset of its type. For this purpose ‘normal paceâ€� is the pace required to construct the asset in a reasonable time without delays or interruptions and consistent with normal business practice.

»Ê¹ÚÌåÓýappse conditions are unlikely to be met where the start of construction of the asset has been brought forward, but the delivery date has not.

Events beyond the control of the people involved may make it impossible to meet conditions B, C or D (FA06/SCH8/PARA19). »Ê¹ÚÌåÓýapprefore in some circumstances these conditions are treated as met, even where they are not met, see BLM23035.