C1C5C4C3C6C7C8C9C10Part 2 Plant and machinery allowances
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
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
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
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 19
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 35
Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 paras. 36, 37
Pt. 2 modified (21.7.2009) by Finance Act 2009 (c. 10), s. 24
Pt. 2 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 73(7)-(11) (with s. 73(6))
Chapter 4 First-year qualifying expenditure
Types of expenditure which may qualify for first-year allowances
46 General exclusions F12...
1
Expenditure within any of the general exclusions in subsection (2) is not first-year qualifying expenditure under F6any of the following provisions—
F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1 section 45A (expenditure on energy-saving plant or machinery)F2,
section 45D (expenditure on cars with low CO2 emissions),
F16section 45DA (expenditure on zero-emission goods vehicles),
F3section 45E (expenditure on plant or machinery for gas refuelling station), F7...
F4section 45F (expenditure on plant and machinery for use wholly in a ring fence trade)
F8section 45H expenditure on environmentally beneficial plant or machinery.
F17section 45K (expenditure on plant and machinery for use in designated assisted areas).
2
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 F15268A).
F18...
F19...
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.
- a
General exclusion 8
F10Any of the following sections applies—
section 13 (use for qualifying activity of plant or machinery provided for other purposes);
F11section 13A (use for other purposes of plant or machinery provided for long funding leasing);
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).
F53
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.
F95
General exclusion 6 does not prevent expenditure being first-year qualifying expenditure under any of the following provisions—
section 45A, if the condition in subsection (6) is met,
F20...
section 45H, if the condition in subsection (6) is met.
6
The condition is that the plant or machinery is provided for leasing under an excluded lease of background plant or machinery for a building, within the meaning given by section 70R.
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)