Capital Allowances Act 2001
2001 CHAPTER 2
Commentary on Sections
Glossary
Part 2: Plant and machinery allowances
Chapter 10: Long-life assets
Section 91: Meaning of “long-life asset”
409.This section is based on section 38A(2) and (3) of CAA 1990. It defines “long-life asset”. A long-life asset is an asset with a useful economic life of 25 years or more when new.
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