Related Commentary  Related HMRC Manuals

14(1)  This section applies if a person–

(a)is the owner of plant or machinery as a result of a gift, and

(b)brings the plant or machinery into use for the purposes of a qualifying activity carried on by him.

14(2)  The person is to be treated–

(a)as having incurred capital expenditure on the provision of the plant or machinery for the purposes of the qualifying activity on the date on which it is brought into use for those purposes, and

(b)as owning the plant or machinery as a result of having incurred that expenditure.

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