FINANCE LEASE RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of maturity analysis of finance lease payments receivable [abstract]

Schedule of Finance Lease Receivables

The Group's finance lease receivables are classified as loans and advances to customers and accounted for at amortised cost. The balance is analysed as follows:

	2021	2020
	£m	£m
Not later than 1 year	346	314
Later than 1 year and not later than 2 years	143	187
Later than 2 years and not later than 3 years	230	150
Later than 3 years and not later than 4 years	118	199
Later than 4 years and not later than 5 years	54	118
Later than 5 years	337	758
Gross investment in finance leases	1,228	1,726
Unearned future finance income on finance leases	(232)	(526)
Rentals received in advance	(14)	(18)
Net investment in finance leases	982	1,182

The net investment in finance leases represents amounts recoverable as follows:

	2021	2020
	£m	£m
Not later than 1 year	277	235
Later than 1 year and not later than 2 years	110	135
Later than 2 years and not later than 3 years	200	105
Later than 3 years and not later than 4 years	96	160
Later than 4 years and not later than 5 years	38	88
Later than 5 years	261	459
Net investment in finance leases	982	1,182