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Looked over my FAC earlier today and noticed that in the table for purchasing firearms, it lists whether the firearm was sold, gifted, rented or lent.

What are the conditions of lending a firearm? I can't find anything in the Guidance.

To put a finer point on the question, my Dad and I both have FACs, I have the authority to hold .22 rifles but they are filled, could I in theory borrow my one of my Dad's .22s?
From another angle, if I have an open slot, could I borrow a rifle of the same calibre on that?

If either of the above is possible, what is the process? Do I inform the police, just fill in the appropriate slot?

You will need to have a free slot on your ticket for it to be 'lent' to. When it goes back it is the same as if you sell it, you will only get the slot reissued if you ask in a timely fashion.
You both need to inform the police as if it was a buy/sell situation when you receive it, when you give it back you just have to say you've given it up 'for good' (or say nothing and you both can use it whenever you like).

There are different facilities in the FA for lending firearms, such as the 'estate gun' rules, but they are different matters from what you are suggesting here..

It's also allowed for two individuals to have a firearm or firearms jointly held on both FACs. I know of a father + son target shooting pair who jointly hold all of their target rifles. I don't know if they do the same for their sporting rifles, but don't see any reason why they shouldn't assuming they both hold land permissions.

Cheers guys, it's what I thought it would be. It was mainly a curiousity as we often shoot separately and Avon & Somerset were for some reason. Not keen on giving us shared guns.