Paragraph 9 General rulesI1
United Kingdom
In the case of any fixed asset which has a limited useful economic life, the amount of—
(a)
the cost, or
(b)
where it is estimated that any such asset will have a residual value at the end of the period of its useful economic life, its cost less that estimated residual value,
shall be reduced by provisions for depreciation calculated to write off that amount systematically over the period of the asset’s useful economic life.
Annotations
Commencement
- I1
Sch. 7 para. 9 in force at 27.3.1998, see reg. 1