CG76742 - Wasting assets: plant and machinery

An item of plant or machinery is always regarded as having a predictable life of less than fifty years. Such items will always be wasting assets. This rule applies no matter what the actual life of the item of plant or machinery proves to be. Where, however, the item has been used in a business, you may need to look at the special rules where capital allowances are involved. CG15400+ tell you about these.