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HMRC internal manual

Capital Allowances Manual

From
HM Revenue & Customs
Updated
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PMA: How allowances and charges are made: Trade, property business, furnished holiday lettings business, overseas property business, professions and vocations, mines, transport undertakings, investment company, employment or office

The details of the general rule are as follows:

Qualifying activity  PMA Balancing charge Legislation
       
Trade treat as an as an expenses of the trade treat as a receipt of the trade CAA01/S247
Property business treat as an expense of the business treat as a receipt of the business CAA01/S248
Furnished holiday lettings business treat as an expense of the business treat as a receipt of the business CAA01/S249, (note ICTA88/S503 applies)
Overseas property business treat as an expense of the business treat as a receipt of the business CAA01/S250
Profession or vocation treat as an expense of the profession or vocation treat as a receipt of the profession or vocation CAA01/S251
Mines, transport undertakings treat as an expense of the concern treat as a receipt of the concern CAA01/S252
Investment company if possible deduct from any income for the period of the business    

if there is an excess of allowances, add it to the company’s management expenses (see CTM08620)

but allowances cannot be given in this way and in some other way on the same item of plant and machinery treat as a income of the business CAA01/S253    
  Employment or office treat as an amount to be deducted from the earnings treat as earnings CAA01/S262