CA23710 | Plant & Machinery Allowances (PMA): Long-life assets: Outline

If writing down allowances are claimed for long-life asset expenditure, they must be claimed at the lower special rate (for current rates of WDA, see 'Work out your capital allowances - rates and pools', gov.uk. For historic rates, see CA23220).

An SLA election CA23640 may not be made for long-life assets.

Some assets are excluded from long-life assets treatment CA23730. Furthermore, there is a monetary limit: If the total expenditure on long-life assets in a chargeable period does not exceed the limit the long-life assets legislation does not apply CA23740.

Once an asset has been treated as a long-life asset it continues to be treated as one even if its ownership changes except where the use by the new owner comes within the exclusions CA23750.