Section 544 Management assets

United Kingdom

(1)

No allowances are to be given or charges imposed in respect of management assets of any F1long-term business carried on by a company except under Part 2 (plant and machinery allowances) F2or Part 2A (structures and buildings allowances).

(2)

An asset is a management asset of any long-term business carried on by a company if it is provided for use, or used, for the management of that business of that company.

F3(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Words in s. 544(1)(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 103(2)
F2: Words in s. 544(1) inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 3(12)
F3: S. 544(3) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 103(3)
F4: S. 544(5) repealed (with effect in accordance with Sch. 10 para. 17(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 10 para. 14(8)(b), Sch. 27 Pt. 2(10)

Notes on Chapter 1

Textual amendments

F1: Words in Pt. 12 Ch. 1 heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 102