Modifications etc. (not altering text)

C1 S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7

Part 12 U.K. Supplementary provisions

Chapter 1 U.K. [F1 LONG-TERM] business

Textual Amendments

F1 Words in Pt. 12 Ch. 1 heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 102

544 Management assets U.K.

(1) No allowances are to be given or charges imposed in respect of management assets of any [F2 long-term business] carried on by a company except under Part 2 (plant and machinery allowances) [F3 or Part 2A (structures and buildings allowances)].

(2) An asset is a management asset of any [F2 long-term business] carried on by a company if it is provided for use, or used, for the management of that business of that company.

F4 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2 Words in s. 544(1)(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 103(2)

F3 Words in s. 544(1) inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 3(12)

F4 S. 544(3) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 103(3)

F5 S. 544(5) repealed (with effect in accordance with Sch. 10 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 10 para. 14(8)(b), Sch. 27 Pt. 2(10)