the first-year allowance is in respect of expenditure incurred at any time on the provision of plant or machinery for leasing in the course of a qualifying activity, and

either the qualifying activity was at that time carried on by the individual in partnership with a company or arrangements have been made with a view to the activity being so carried on.

if the firm includes other partners, or

when the arrangements were made.

letting a ship on charter is treated as leasing the ship, and

references to making arrangements include effecting schemes.