Part 2Plant and machinery allowances

Chapter 9Short-life assets

83Meaning of “short-life asset”

Plant or machinery in respect of which qualifying expenditure has been incurred is a short-life asset if—

(a)its treatment as a short-life asset is not ruled out by section 84, and

(b)the person incurring the expenditure elects for the plant or machinery to be treated as a short-life asset.