Part 2 Plant and machinery allowances
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).