Related Commentary  Related HMRC Manuals

264(1)  Subsection (2) applies if–

(a)a qualifying activity is carried on in partnership,

(b)plant or machinery is used for the purposes of the qualifying activity, and

(c)the plant or machinery is owned by one or more of the partners but is not partnership property.

264(2)  The same allowances, deductions and charges are to be made under this Part in respect of the plant or machinery as would fall to be made if–

(a)the plant or machinery had at all material times been owned by all the partners and been partnership property, and

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