Is software a fixed asset or an expense

[UKSBD]

My PC's are classed as tangible fixed assets and written off at 33% per year.

What about Software though?
i.e. Adobe C4 cost me £1200 (for the licence).

Is this just classed as an expense or an asset?

 

[MyAccountantOnline]

Although a license to use software is an intangible asset, it is specifically provided that capital expenditure on licensed software, and electronically transmitted software, qualifies for capital allowances as 'plant and machinery' .

If licenced software is acquired on rental, the rentals are deducted from profits over the life of the software.

If a lump sum is paid HM Revenue & Customs normally take the view that the cost of the software with an expected life of less than 2 years is written off as an expense rather than subject to capital allowances.