Commentary

D7.429 Long-term business fixed capital

Corporate tax
Corporate tax | Commentary

D7.429 Long-term business fixed capital

Corporate tax | Commentary

D7.429 Long-term business fixed capital

The rules in this division apply for accounting periods beginning on or after 1 January 2013. For accounting periods beginning before 1 January 2013 see Division D7.5.

Receipts and expenses on assets representing long-term business fixed capital (see D7.410) are not included in the measure of trading profit arising on the company's long-term business1. The returns arising on such assets are taxed on first principles.

HMRC guidance on long-term business fixed capital can be found at LAM11000 onwards.

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