C1Part 2 Plant and machinery allowances
Annotations:
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).
Pt. 2 (ss. 11-270) modified (prosp.) by Proceeds of Crime Act 2002 (c. 29), ss. 448, 458(1), Sch. 10 para. 12 (with para. 17(1))