{
  "url": "https://openlegislation.uk/capital-allowances-act-2001/section-254",
  "json_url": "https://openlegislation.uk/capital-allowances-act-2001/section-254.json",
  "legislation": "ukpga/2001/2",
  "legislation_title": "Capital Allowances Act 2001",
  "legislation_url": "https://openlegislation.uk/capital-allowances-act-2001",
  "path": "section/254",
  "kind": "section",
  "number": "254",
  "heading": "Introductory",
  "text": "(1) Sections 255 and 256 apply if a company which is carrying on any long-term business is entitled or liable to any allowances or charges for a chargeable period in respect of plant or machinery consisting of a management asset.\n(2) In this Chapter “management asset” has the same meaning as in Chapter 1 of Part 12 (life assurance business).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 254(1) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 97"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2001/2/section/254",
    "retrieved_at": "2026-10-29T09:20:17.739129+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}