http://www.legislation.gov.uk/id/ukpga/2001/2

Part 2Plant and machinery allowances

Chapter 10Long-life assets

Expenditure excluded from being long-life asset expenditure

97Expenditure within the relevant monetary limit: general

Expenditure is not long-life asset expenditure if it is—

(a)

expenditure to which the monetary limits apply, and

(b)

incurred in a chargeable period for which the relevant monetary limit is not exceeded.