Capital Allowances Act 2001 section 90

Long-life asset expenditure

Section 90 defines what is meant by "long-life asset expenditure" for the purposes of plant and machinery capital allowances.

• Long-life asset expenditure is a specific category of qualifying expenditure subject to special capital allowance rules.
• The expenditure must be incurred on providing a long-life asset for the purposes of a qualifying activity.
• Certain types of expenditure are excluded from being treated as long-life asset expenditure under sections 93 to 100.
• Both conditions must be met: the expenditure must relate to a long-life asset and must not fall within any of the exclusions.