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Capital Allowances Act 2001

Section 264: Partnership using property of a partner

907.This section is based on section 65(1) and (3) of CAA 1990.

908.Subsections (1) and (2) are based on section 65(1) of CAA 1990 and provide for plant and machinery allowances to be available to a partnership for property owned by one partner.

909.Subsection (3) is based on section 65(3) of CAA 1990 and provides an exception for assets leased to the partnership.

910.Section 61(2) stops transfers between partners being disposal events for plant and machinery and is based on section 65(2).

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