Tax relief on slurry storage facilities - Dec 2009
H.M Revenue & Customs have confirmed that slurry storage systems used for the temporary storage of slurry, qualify as plant & machinery for capital allowances purposes and are therefore eligible for allowances including the 100% annual investment allowance.
For example, this would apply to an above ground circular store and a reception pit but would not extend to an open sided shed providing shelter to the tank preventing rainwater from falling into the store. The shed would not be deemed part of the slurry storage facility and would not qualify for allowances.
It is advised that you discuss any such projects with your usual contact before commencing work to ensure that you maximise available allowances.
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