Commentary

D7.593 Management assets

Corporate tax
Corporate tax | Commentary

D7.593 Management assets

Corporate tax | Commentary

D7.593 Management assets

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

Capital allowances and balancing charges on management assets are apportioned to the various categories of business by reference to liabilities alone without any reference to assets using the formula—

where:

  1.  

         A is the amount of allowance or charge;

  2.  

         B is the mean of the opening and closing liabilities of the category of business concerned (taking the mean to be nil if it is actually below nil); and

  3.  

         C

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