Capital Allowances Act 2001 (c. 2)

Part 2 U.K. Plant and machinery allowances

Modifications etc. (not altering text)

C1 Pt. 2 (ss. 11-270) modified (prosp.) by Proceeds of Crime Act 2002 (c. 29), ss. 448, 458(1), Sch. 10 para. 12 (with para. 17(1))

Chapter 5 U.K. Allowances and charges

Pooling U.K.

54 The different kinds of pools U.K.

(1) There are single asset pools, class pools and the main pool.

(2) A single asset pool may not contain expenditure relating to more than one asset.

(3) The following provide for qualifying expenditure to be allocated to a single asset pool—

• section 74 (car above the cost threshold);

• section 86 (short-life asset);

• section 127 (ship);

• section 206 (plant or machinery provided or used partly for purposes other than those of qualifying activity);

• section 211 (payment of partial depreciation subsidy);

• section 538 (contribution allowances: plant and machinery).

(4) A class pool is a pool which may contain expenditure relating to more than one asset.

(5) The following provide for qualifying expenditure to be allocated to a class pool—

• section 101 (long-life assets);

• section 107 (overseas leasing).

(6) Qualifying expenditure may be allocated to the main pool only if it does not fall to be allocated to a single asset pool or a class pool.