This guidance summarises the practical treatment of capital allowances where a qualifying activity is carried on by a UK partnership, including general partnerships and limited liability partnerships (LLPs). It focuses on plant and machinery allowances and the main procedural points a tax adviser will need when preparing partnership computations and advising on partner changes.

The general rules on which assets qualify for capital allowances (‘eligible assets’) are explained in the What are capital allowances? and What is plant and machinery? guidance notes.