Capital Allowances Act 2001 section 270HF

Application of sections 270HG and 270HH

Section 270HF sets out the conditions under which the special apportionment and giving-effect rules in sections 270HG and 270HH apply to insurance companies carrying on long-term business.

• Applies to companies carrying on long-term business that are entitled to structures and buildings allowances
• The allowance must relate to a relevant interest in a building or structure that is a management asset
• Where these conditions are met, special rules in sections 270HG and 270HH govern how the allowance is given effect
• The term "management asset" takes its meaning from the long-term business rules in Chapter 1 of Part 12 of the Act