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I can not understand why the lease taxation of the leasing started from year two and not from year 1. I understant that lease payments are paid in advance, and therefore they start from year 0. Tax is paid one year in arrrears, and so tax should be under year 1, right?
Thanks
I do explain this in detail in my free lectures on lease and buy.
The lease payment is made at the start of the year, this affect the tax computation at the end of the year, and the tax saving is made one year after the end of the year. i.e. two years since the lease payment.
I do suggest that you watch my free lectures on this.
The lectures are a complete free course for Paper FM and cover everything needed to be able to pass the exam well.
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