C1C7C4C3C9C10C11C12C13Part 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))
C7C4C6C5C3C13Chapter 5 Allowances and charges
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
First-year allowances
52 First-year allowances
1
A person is entitled to a first-year allowance in respect of first-year qualifying expenditure if—
a
the expenditure is incurred in a chargeable period to which this Act applies, and
b
the person owns the plant or machinery at some time during that chargeable period.
2
Any first-year allowance is made for the chargeable period in which the first-year qualifying expenditure is incurred.
C83
The amount of the allowance is a percentage of the first-year qualifying expenditure in respect of which the allowance is made, as shown in the Table—
Amount of first-year allowances
Type of first-year qualifying expenditure | Amount |
|---|---|
F7. . . | F7. . . |
F6. . . | F6. . . |
F7. . . | F7. . . |
F1Expenditure qualifying under section 45A (expenditure on energy-saving plant or machinery | 100% |
F2Expenditure qualifying under section 45D (expenditure on cars with low CO2 emissions) | 100% |
F12Expenditure qualifying under section 45DA (expenditure on zero-emission goods vehicles) | 100% |
F3Expenditure qualifying under section 45E (expenditure on plant or machinery for gas refuelling station) | 100% |
F8Expenditure qualifying under section 45F (expenditure for use wholly in a ring fence trade) | 100% |
F4Expenditure qualifying under section 45H (expenditure on environmentally beneficial plant or machinery) | 100% |
F15Expenditure qualifying under section 45K (expenditure on plant and machinery for use in designated assisted areas) | 100% |
F5...
4
A person who is entitled to a first-year allowance may claim the allowance in respect of the whole or a part of the first-year qualifying expenditure.
5
Subsection (1) needs to be read with section 236 (first-year allowances in respect of additional VAT liabilities) and is subject to—
F10section 70DA(2) (transfer and long funding leaseback: no first-year allowance for lessee),
section 205 (reduction of first-year allowance if plant or machinery provided partly for purposes other than those of qualifying activity),
section 210 (reduction of first-year allowance if it appears that a partial depreciation subsidy is or will be payable), F13...
F14section 212T (cap on first-year allowances: zero-emission goods vehicles), F16...
F17 section 212U (cap on first-year allowances: expenditure on plant and machinery for use in designated assisted areas), and
sections 217F11, 229A(2) F9... and 241 (anti-avoidance: no first-year allowance in certain cases).
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)