BIM45501 - Specific deductions: insurance: fixed assets
Annual premiums on policies providing indemnity for damage to or loss of fixed assets (including intangible assets) are allowed as a deduction provided they are incurred wholly and exclusively for the purposes of the trade (see BIM37000 onwards). Annual premiums are allowable without restriction even if the policies cover replacement 바카라 사이트˜new for old바카라 사이트™, and not merely damage to or loss of the assets in their depreciated state.