Short-life assets

Produced by Tolley

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

  • Short-life assets
  • Short-life assets
  • Election for short-life assets

Short-life assets

Short-life assets

A short-life asset is an asset with a predicted useful life of less than eight years.

Certain assets are excluded from short-life asset treatment. These include cars and assets with partial non-business use. Expenditure within the special rate pool (integral features and long-life assets, see the Special rate pool and long life assets guidance note) is also excluded.

If a business acquires an asset and does not expect it to last for more than eight years, the business can make an election to depo

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