»Ê¹ÚÌåÓýapp

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 pre-existing heads of agreement refers to an established commercial consensus that existed as at 20 July 2005 between the two principal parties to the proposed lease. Evidence to show this consensus must exist in writing made on or before 20 July 2005. »Ê¹ÚÌåÓýapp written agreement does not have to be as formal as a signed term sheet and could be in the form of letters, emails or more formal documents.

»Ê¹ÚÌåÓýapp pre-existing heads of agreement does not have to be binding on either party, nor does it have to be a single document or be signed by lessor and lessee.

You should refer cases of doubt or difficulty to CS&TD after having obtained the relevant documents.