Commentary

B3.336 Plant and machinery allowances—acquisition and disposal in the same period

Business tax
Business tax | Commentary

B3.336 Plant and machinery allowances—acquisition and disposal in the same period

Business tax | Commentary

B3.336 Plant and machinery allowances—acquisition and disposal in the same period

A person who incurs expenditure on plant or machinery wholly and exclusively for the purposes of his qualifying activity may include that expenditure in a pool for the chargeable period in which the expenditure is incurred (see B3.332), provided that it is owned by him. If it is subsequently disposed of in the same chargeable period, the disposal value is deducted from the balance of the pool (see B3.334)1. However, if the annual investment allowance or a first-year allowance have not been claimed, an election for treatment as a

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