CA23780 | Plant & Machinery Allowances (PMA): Long-life assets: Industry-wide agreements

You should be prepared to enter into industry-wide agreements about which assets are or are not likely to be long-life. For industries largely dealt with in Large Business the agreement should be handled there with one office taking the lead where the industry is dealt with in different offices. In any other case, a request from the industry for an agreement should be sent to BAI (Technical). Copies of any proposed agreements should be copied to BAI (Technical).

The approach for the agreement should come from the bodies representing the industrial sector. Where there is more than one representative body for the sector, it should be made jointly by all the bodies. The body or bodies should put forward only proposals agreed by them as setting out the generally accepted views of businesses in that sector on which assets are or are not likely to be long-life.