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A person can make an election¹ for expenditure on an item of plant or machinery not to be included in the main pool. Instead, the expenditure is allocated to a single asset pool (a 'short-life asset pool') of its own². The result is that a balancing allowance can arise when the asset is disposed of, whereas one could not normally arise if the item were included in the main pool unless the qualifying activity were to cease simultaneously. See also CA23610–CA23660.

A short-life asset election must be made by notice given to an HMRC officer, and must specify the plant or machinery concerned, the qualifying expenditure incurred in respect of it and the date on which it was incurred³.

A single election may cover more than one asset. It may be made in respect of some or all of the assets acquired in the chargeable period to which the election relates. Separate records would normally be required for each asset covered by an election. In practice, however, it is recognised that the