TOFA rules and UCA

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End of attention

The TOFA rules contain interaction provisions which may modify the cost and termination value of a depreciating asset acquired by a trust to which the TOFA rules apply. This will be the case where the consideration (or a substantial proportion of it) is deferred for greater than 12 months after delivery.

For more information, see Guide to the taxation of financial arrangements (TOFA) rules and the Guide to depreciating assets 2012-13.