Part 2 Plant and machinery allowances
Chapter 10 Long-life assets
Expenditure excluded from being long-life asset expenditure
94 Ships
(1)
Expenditure is not long-life asset expenditure if—
(a)
it is incurred before 1st January 2011 on the provision of a ship of a sea-going kind, and
(b)
each of the conditions in subsection (2) is met.
(2)
The conditions are that—
(a)
the ship is not an offshore installation,
F1(b)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)
the primary use to which ships of the same kind are put by their owners (or, if their use is made available to others, those others) is a use otherwise than for sport or recreation.
F2(3)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .