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The overseas leasing provisions described in this article do not apply to leases finalised after 31 March 2006.

There are provisions which restrict the rate of capital allowances on plant or machinery that is leased to a person resident overseas under a lease finalised before 1 April 2006¹. In some cases there are no allowances at all when plant or machinery is used for overseas leasing. The provisions are, in effect, repealed by disregarding leases finalised on or after 2006 in determining whether plant or machinery is used for overseas leasing. The provisions are summarised here as some overseas leasing pools may still exist. For leases finalised after 31 March 2006, allowances are given on the same basis as for UK leasing.

Subject to this, the provisions apply to qualifying expenditure incurred on the provision of plant or machinery for leasing which is at any time in the 'designated period' of 10 years used for 'overseas leasing' which is not 'protected leasing'².