C1Part 2 Plant and machinery allowances

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Modifications etc. (not altering text)

Chapter 4 First-year qualifying expenditure

Types of expenditure which may qualify for first-year allowances

44 Expenditure incurred by small or medium-sized enterprises

1

Expenditure is first-year qualifying expenditure if—

a

it is incurred by a small or medium-sized enterprise, and

b

it is not excluded by subsection (2) or section 46 (general exclusions).

2

Long-life asset expenditure is not first-year qualifying expenditure under subsection (1).