C1C7C4C6C5C3Part 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 modified (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 para. 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. 9 para. 10 (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
Chapter 4 First-year qualifying expenditure
Expenditure of small or medium-sized enterprises
47 Expenditure of small or medium-sized enterprises: companies
1
Use this section to decide whether expenditure incurred by a company is, for the purposes of this Chapter, incurred by—
a
a small or medium-sized enterprise, or
b
a small enterprise.
2
The expenditure is incurred by a small or medium-sized enterprise if the company—
a
qualifies (or is treated as qualifying) as small or medium-sized under the relevant companies legislation in relation to the financial year of the company in which the expenditure is incurred, and
b
is not a member of a large group at the time when the expenditure is incurred.
3
The expenditure is incurred by a small enterprise if the company—
a
qualifies (or is treated as qualifying) as small under the relevant companies legislation in relation to the financial year of the company in which the expenditure is incurred, and
b
is not a member of a large or medium-sized group at the time when the expenditure is incurred.
4
Except in the case of a company formed and registered in Northern Ireland—
a
“the relevant companies legislation” means section 247 of the Companies Act 1985 (c. 6), and
b
“financial year” has the same meaning as in Part VII of the 1985 Act.
5
In the case of such a company—
a
“the relevant companies legislation” means Article 255 of the Companies (Northern Ireland) Order 1986 (S.I.1986/1032 (N.I.6)), and
b
“financial year” has the same meaning as in Part VIII of the 1986 Order.
6
“Company” means—
a
a company, or an oversea company, within the meaning of the 1985 Act, or
b
a company, or a Part XXIII company, within the meaning of the 1986 Order.
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)