Related Commentary  Related HMRC Manuals

399(1)  Expenditure on the provision of plant or machinery is not qualifying expenditure except as provided by section 402 (pre-trading expenditure on plant or machinery).

399(1A)  Expenditure incurred by a person for the purposes of a mineral extraction trade is not qualifying expenditure if–

(a)when the expenditure is incurred, the person is carrying on the trade but the trade is not at that time a mineral extraction trade, or

(b)the person has not begun to carry on the trade when the expenditure is incurred and, when the person begins to carry on the trade, the trade is not a mineral extraction trade.

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