CAA01/S97 – S100

There is a monetary limit. Where the total expenditure in a chargeable period on long-life assets, which are not excluded from the monetary limit, is less than the monetary limit, the long-life asset rules do not apply to that expenditure. The monetary limit is £100,000 per annum. It is reduced or increased if the chargeable period is less or more than 12 months and for companies in groups.

The monetary limit applies only to expenditure incurred by companies, individuals and partnerships of individuals. It does not apply to trusts or partnerships with companies.

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