Part 2

Plant and machinery allowances
Chapter 10

Long-life assets

Rules applying to long-life asset expenditure

Long-life asset pool
101
1
Long-life asset expenditure to which this section applies, if allocated to a pool, must be allocated to a class pool (“the long-life asset pool”).
2
This section applies to long-life asset expenditure if—
a
it is incurred on the provision of long-life assets wholly and exclusively for the purposes of a qualifying activity, and
b
it is not expenditure which is required to be allocated to a single asset pool.