(a) incurred on the provision of a long-life asset for the purposes of a qualifying activity, and

(b) not excluded from being long-life asset expenditure by any of sections 93 to 100.

(a) if new, can reasonably be expected to have a useful economic life of at least 25 years, and

(b) if not new, could reasonably have been expected when new to have a useful economic life of at least 25 years.

(a) beginning when it is first brought into use by any person for any purpose, and

(b) ending when it is no longer used or likely to be used by anyone for any purpose as a fixed asset of a business.

(a) the part to which this Chapter applies, and

(b) the part to which it does not,

(a) as a dwelling-house, hotel, office, retail shop or showroom, or

(b) for purposes ancillary to the use referred to in paragraph (a).

"fixture" has the meaning given by section 173(1);

"retail shop" includes any premises of a similar character where a retail trade or business, including repair work, is carried on.

(a) it is incurred before 1st January 2011 on the provision of a ship of a sea-going kind, and

(b) each of the conditions in subsection (2) is met.

(a) the ship is not an offshore installation,

(b) the ship would not be an offshore installation if the activity for the carrying on of which it is, or is to be, established or maintained were carried on in or under controlled waters, and

(c) the primary use to which ships of the same kind are put by their owners (or, if their use is made available to others, those others) is a use otherwise than for sport or recreation.

(a) a locomotive, tram or other vehicle, or a carriage, wagon or other rolling stock designed or adapted for use on a railway;

(b) anything which is, or is to be, comprised in any railway station, railway track or light maintenance depot or any apparatus which is, or is to be, installed in association with such a station, track or depot.

(a) from places inside the United Kingdom to places outside the United Kingdom, or

(b) from places outside the United Kingdom to places inside the United Kingdom.

"the 1993 Act" means the Railways Act 1993 (c. 43);

"goods" has the same meaning as in Part I of the 1993 Act;

"railway station" and "railway track" include-

(a) anything included in the definitions of "station" and "track" in section 83 of the 1993 Act, and

(b) anything else that would be included if in section 83 "railway" had the meaning given in section 81(2) of the 1993 Act;

"light maintenance depot" means-

(a) any light maintenance depot within the meaning of Part I of the 1993 Act, and

(b) any land or other property which is the equivalent of such a depot in relation to anything which is a railway only when "railway" has the meaning given by section 81(2) of the 1993 Act.

(a) expenditure to which the monetary limits apply, and

(b) incurred in a chargeable period for which the relevant monetary limit is not exceeded.

(a) the expenditure was incurred by him for the purposes of a qualifying activity carried on by him,

(b) the whole of his time is substantially devoted in that period to the carrying on of that qualifying activity, and

(c) the expenditure is not within subsection (4).

(a) all of the members of the partnership are individuals,

(b) the expenditure was incurred by the partnership for the purposes of a qualifying activity carried on by it,

(c) at all times throughout that period at least half the partners for the time being devote the whole or a substantial part of their time to the carrying on of that qualifying activity, and

(d) the expenditure is not within subsection (4).

(a) incurred on the provision of a share in plant or machinery,

(b) treated as a result of section 538 (contribution allowances: plant and machinery) as incurred on the provision of plant or machinery, or

(c) incurred on the provision of plant or machinery for leasing (whether or not the leasing is in the course of a trade).

where-

L is the monetary limit applicable under subsection (1) or (3), and

N is the number of the associated companies.
 

(a) is long-life asset expenditure, or would be long-life asset expenditure in the absence of section 97 (expenditure within monetary limit), and

(b) is expenditure to which the monetary limits apply.

(a) it is incurred on the provision of long-life assets wholly and exclusively for the purposes of a qualifying activity, and

(b) it is not expenditure which is required to be allocated to a single asset pool.

(a) a person entitled to do so has made a Part 2 claim in respect of expenditure incurred on the provision of plant or machinery, and

(b) the expenditure fell to be treated as long-life asset expenditure for the purposes of the claim.

(a) at any time after making the Part 2 claim, that claimant or another person makes a Part 2 claim in respect of any qualifying expenditure incurred at any time (including a time before the incurring of the expenditure to which the earlier claim relates) on the provision of the same plant or machinery, and

(b) the expenditure to which the later claim relates-

(i) would not (but for this subsection) be treated for the purposes of the later claim as long-life asset expenditure, and

(ii) is not prevented from being long-life asset expenditure by any of sections 93 to 96,

this Part has effect in relation to the later claim as if the expenditure to which it relates were long-life asset expenditure.

(a) makes a tax return in which the expenditure is taken into account in determining his available qualifying expenditure for the purposes of this Part;

(b) gives notice of an amendment of a tax return which provides for the expenditure to be so taken into account;

(c) makes a claim in any other way for the expenditure to be so taken into account.

(a) section 102 (writing-down allowances at 6%) has had effect in relation to any long-life asset expenditure incurred by a person ("the taxpayer"),

(b) any disposal event occurs in relation to the long-life asset,

(c) the disposal value to be brought into account by the taxpayer would (but for this section) be less than the notional written-down value of the long-life asset, and

(d) the disposal event is part of, or occurs as a result of, a scheme or arrangement the main purpose or one of the main purposes of which is the obtaining by the taxpayer of a tax advantage under this Part.

QE - A

where-

QE is the taxpayer's expenditure on the plant or machinery that is qualifying expenditure, and

A is the total of all allowances which could have been made to the taxpayer in respect of that expenditure if-

(a) that expenditure had been the only expenditure that had ever been taken into account in determining his available qualifying expenditure,

(b) that expenditure had not been prevented by the application of a monetary limit from being long-life asset expenditure, and

(c) all allowances had been made in full.