Parts of assets

References in the legislation to assets (including a building or structure, plant or machinery or works) include a part of an asset, unless the context requires otherwise.

A share in plant or machinery is similarly treated but will be accepted as used for the purposes of a trade only so long as the plant or machinery is used for the purposes of a trade.

Legislation: CAA 2001, s. 270, 571

Other material: CA20080

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