What is a long-life asset for capital allowances? What allowances can be claimed on long-life assets?

This is a freeview 'At a glance' guide to long-life assets. 

At a glance

Excluded assets

The following are excluded from being long-life asset expenditure:

Agreements have been made with particular industry bodies to exclude certain assets from being treated as long-life assets, these include certain aircraft, Greenhouses, water supply, and printing equipment.

Useful guides on this topic

Plant & machinery: Allowances
What are the capital allowances on plant and machinery? How do you calculate them? What are the qualifying activities?

What expenditure qualifies for plant & machinery allowances?
What is plant and machinery? What expenditure qualifies as plant and machinery? What is treated as part of a building? 


Squirrel ad


Are you enjoying our content? 

Thousands of accountants and advisers and their clients use www.rossmartin.co.uk as their primary TAX resource.

Register with us now to receive our receive our FREE SME Topical Tax Update & newletter