C2

C1C7C4C6C5C3Part 2 Plant and machinery allowances

Annotations:
Modifications etc. (not altering text)
C1

Pt. 2 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 12 (with Sch. 10 para. 17(1)); S.I. 2003/120, art. 2, Sch. (with arts. 34) (as amended (20.2.2003) by S.I. 2003/333, art. 14)

C7

Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 10, 22 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1

C4

Pt. 2 modified (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 9(2), 21(2) (with s. 38(2)); S.I. 2004/2575, art. 2(1) , Sch. 1

C5

Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 para. 10 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1

C3

Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 4 para. 4 ; S.I. 2004/2575 , art. 2(1) , Sch. 1

Chapter 4 First-year qualifying expenditure

F9Environmentally beneficial components of plant or machinery

Annotations:
Amendments (Textual)
F9

S. 45H-45J inserted (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14), Sch. 30 para. 3

46 General exclusions applying to sections 40, 44 and 45

1

Expenditure within any of the general exclusions in subsection (2) is not first-year qualifying expenditure under F10any of the following provisions

  • section 40 (expenditure incurred for Northern Ireland purposes by small or medium-sized enterprises),

  • section 44 (expenditure incurred by small or medium-sized enterprises), F1...

  • section 45 (ICT expenditure incurred by small enterprises) F2, F3...

  • section 45A (expenditure on energy-saving plant or machinery). F4 ,

  • section 45D (expenditure on cars with low CO 2 emissions),

  • F5 section 45E (expenditure on plant or machinery for gas refuelling station) , F11...

  • section 45F (expenditure on plant and machinery for use wholly in a ring fence trade).

    F12section 45H expenditure on environmentally beneficial plant or machinery.

F62

The general exclusions are—

General exclusion 1

The expenditure is incurred in the chargeable period in which the qualifying activity is permanently discontinued.

General exclusion 2

The expenditure is incurred on the provision of a car (as defined by section 81).

General exclusion 3

The expenditure is of the kind described in section 94 (ships).

General exclusion 4

The expenditure is of the kind described in section 95 (railway assets).

General exclusion 5

The expenditure would be long-life asset expenditure but for paragraph 20 of Schedule 3 (transitional provisions).

General exclusion 6

The expenditure is on the provision of plant or machinery for leasing (whether in the course of a trade or otherwise).

For this purpose, the letting of a ship on charter, or of any other asset on hire, is to be regarded as leasing (whether or not it would otherwise be so regarded).

General exclusion 7

The circumstances of the incurring of the expenditure are that—

a

the provision of the plant or machinery on which the expenditure is incurred is connected with a change in the nature or conduct of a trade or business carried on by a person other than the person incurring the expenditure, and

b

the obtaining of a first-year allowance is the main benefit, or one of the main benefits, which could reasonably be expected to arise from the making of the change.

General exclusion 8

Either of the following sections applies—

  • section 13 (use for qualifying activity of plant or machinery provided for other purposes);

  • section 14 (use for qualifying activity of plant or machinery which is a gift).

This is subject to section 161 (pre-trading expenditure on mineral exploration and access).

F73

Subsection (1) is subject to the following provisions of this section.

4

General exclusion 2 does not prevent expenditure being first-year qualifying expenditure under section 45D.

F8 5

General exclusion 6 does not prevent expenditure being first-year qualifying expenditure under section 45A, 45D F13, 45E or 45H.