Capital Allowances Act 2001 Chapter 1 — LONG-TERM business

544–545・2 provisions

Management assets

544

(1) No allowances are to be given or charges imposed in respect of management assets of any long-term business carried on by a company except under Part 2 (plant and machinery allowances) or Part 2A (structures and buildings allowances) . (2) An asset is a management asset of any long-term business carried on by a company if it is provided for use, or used, for the management of that business of that company. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Investment assets

545

(1) This section applies if a company which is carrying on any long-term business holds an asset for purposes other than the management of that business. (2) “ Investment asset ” means an asset that is within subsection (1). (3) No allowance in respect of an investment asset is to be taken into account in calculating for corporation tax purposes the profits of any non-BLAGAB long-term business carried on by the company.

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