Long life assets | AccountingWEB

Long life assets

In the July 2011 Tax Adviser the article 'Let the sunshine in' states that for business use after AIA has been claimed and surplus is treated as a long life asset as the panels are guaranteed for 25 years, but in the legislation in s93 CAA 2001, it says that expenditure is excluded if used amongst other things, for use in a hotel or retail shop so one assumes that if the item is in fact a 'fixture' then expenditure in those trades would not apply, I guess that they may not be deemed to be a fixture which means that a long life asset claim within businesses not mentioned within s93 would be acceptable, could they also fall within integral features as they are maybe part of an electrical system?

Any thoughts on this would be appreciated.

Many thanks


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holywood |