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Purchase of farm entitlements

A farming client, operating as a company, has paid £20,000 to purchase SPS entitlements. It seems to me that this is a capital item, tobe shown as intangible asset. Any remarks on this?  Does any member know whether capital allowances are claimable on this payment ?

Thank you

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By sparish
22nd Mar 2019 14:42

That is how it is normally shown in my experience. You do not get capital allowances. The amortisation is allowable in a company, however would not be allowable if a sole trader/partnership

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