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HMRC internal manual

Capital Allowances Manual

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HM Revenue & Customs
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Plant and Machinery Allowances (PMA): introduction: parts and shares

CAA01/S270 & CAA01/S571

A part of an asset is treated as an asset for the purposes of the plant and machinery legislation  CA11600.

The plant or machinery legislation applies to a share in plant or machinery in the same way as it applies to a part of plant or machinery. A share in plant or machinery is treated as used for the purposes of a trade so long as, and only so long as, the plant or machinery is used for the purposes of a trade CA29210.