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HMRC internal manual

Capital Allowances Manual

HM Revenue & Customs
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PMA: Short life assets: Leased assets


An asset provided for leasing can be a short life asset (SLA) provided that it appears that it will be used for a qualifying purpose during the designated period. A leased asset treated as a SLA on that basis may begin to be used other than for a qualifying purpose before the four year cut off (for expenditure incurred before 1/6 April 2011) or eight year cut off (for expenditure uncured on or after 1/6 April 2011). If that happens, SLA treatment ends and the balance in the SLA pool is transferred to the main pool.