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answer text |
<p>Treasury officials are in regular contact with HMRC colleagues.</p><p> </p><p>HMRC
do not classify which assets should be written down at the main or special rate of
writing down allowances. Instead, businesses should identify whether an asset they
have acquired has a useful economic life (UEL) of more or less than 25 years when
new. This UEL test for plant and machinery should be applied on the asset as a whole,
rather than individual components, since for tax purposes the asset is depreciated
as a single unit.</p>
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