b

in calculating the amounts of unrelieved qualifying expenditure mentioned in subsection (1)(a) to (c), any part of those amounts that is relevant new expenditure is to be left out of account.

3

Relevant new expenditure” means—

a

expenditure attributable to plant or machinery acquired by the relevant company on the relevant day except for plant or machinery acquired on that day from an associated company, and

b

expenditure incurred on the relevant day but attributable to plant or machinery acquired by the relevant company before that day.

4

In subsection (3)—

a

“acquired” includes brought into use or made available for use for the first time for the purposes of the business, and

b

a reference to anything acquired or incurred includes anything treated as acquired or treated as incurred.