Section 54 The different kinds of pools
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(1) There are single asset pools, class pools and the main pool.
(2) A single asset pool may not contain expenditure relating to more than one asset.
(3) The following provide for qualifying expenditure to be allocated to a single asset pool—
...1
section 86 (short-life asset);
section 127 (ship);
section 206 (plant or machinery provided or used partly for purposes other than those of qualifying activity);
section 211 (payment of partial depreciation subsidy);
section 538 (contribution allowances: plant and machinery).
Amendments
1 Omitted by Finance Act 2009 section 30 and Schedule 11 para 15 with effect in relation to expenditure incurred on or after 1 April 2009 (for corporation tax purposes), and 6 April 2009 (for income tax purposes, subject to the provisions in Finance Act 2009 Schedule 11 paras 27-32.
(4) A class pool is a pool which may contain expenditure relating to more than one asset.
(5) The following provide for qualifying expenditure to be allocated to a class pool—
[section 104C (special rate expenditure);]1
section 107 (overseas leasing).
Amendments
1 Substituted by Finance Act 2008 Section 60 and Schedule 26 para 3 in relation to
(a) expenditure incurred on or after the relevant date, and
(b) long-life asset expenditure incurred before the relevant date but allocated to a pool in a chargeable period beginning on or after that date.
The relevant date is 1 April 2008 for corporation tax purposes, and 6 April 2008 for income tax purposes.
(6) Qualifying expenditure may be allocated to the main pool only if it does not fall to be allocated to a single asset pool or a class pool.
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