Part 2

Plant and machinery allowances
Chapter 9

Short-life assets

Short-life asset pool
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1
Qualifying expenditure in respect of a short-life asset, if allocated to a pool, must be allocated to a single asset pool (a “short-life asset pool”).
2
If the final chargeable period for the short-life asset pool has not occurred before the four-year cut-off—
a
the pool ends at the four-year cut-off without a final chargeable period,
b
the available qualifying expenditure in the pool is allocated to the main pool for the first chargeable period ending after the four-year cut-off, and
c
the asset ceases to be a short-life asset.
3
In this Chapter “the four-year cut-off” means the fourth anniversary of the end of—
a
the chargeable period in which the qualifying expenditure was incurred on the provision of the short-life asset, or
b
if the qualifying expenditure was incurred in different chargeable periods, the first chargeable period in which any of the qualifying expenditure was incurred.
4
For the purposes of subsection (2), the final chargeable period occurs before the four-year cut-off only if it ends on or before it.