Part 12

Supplementary provisions
Chapter 1

LONG-TERM business

Management assets
544
1
No allowances are to be given or charges imposed in respect of management assets of any long-term business carried on by a company except under Part 2 (plant and machinery allowances) or Part 2A (structures and buildings allowances).
2
An asset is a management asset of any 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.
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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
S. 544(5) repealed (with effect in accordance with Sch. 10 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 10 para. 14(8)(b), Sch. 27 Pt. 2(10)
Words in Pt. 12 Ch. 1 heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 102
S. 544(3) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 103(3)
Words in s. 544(1)(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 103(2)
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)