Capital allowances

By Tolley

The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:

  • Capital allowances
  • Introduction
  • Capital allowances and partnerships
  • What happens when a partner joins or leaves?

This document discusses the various types of capital allowances, the rates of allowances applicable for each type allowances, chargeable periods and so on.



This note explains the interaction between the legislation on capital allowances, and the rules which apply when a partner joins or leaves a partnership.

Capital allowances and partnerships

The general rules on which assets qualify for capital allowances (‘eligible assets’) are explained in the Capital allowances ― introduction and Definition of plant and machinery guidance notes.

A partnership can claim capital allowances on eligible assets which are either:

  • <•<

More on Changes of partner: