CG15402 | Capital allowances: plant and machinery

If the assets which qualify for capital allowances are plant and machinery, there are two further provisions which need to be taken into account

• the plant and machinery must be treated as a wasting asset, see CG15450

• the plant and machinery is excluded from a rebasing election under TCGA92/S35 (5) by TCGA92/SCH3/PARA7, see CG16780+.