Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent discussions officials in his Department have held with HMRC on the classification of long- and short-term vessels under the Capital Allowance scheme for commercial maritime vessels.

The Treasury maintains regular contact with HMRC about all aspects of capital allowances policy.

HMRC does 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.