The structure of the capital allowances legislation is potentially misleading. There is a main heading, ‘Qualifying Expenditure’, for CAA 2001, Pt. 2, Ch. 3. Nevertheless, the ‘general rule’ is in an earlier part of the Act (CAA 2001, s. 11(4)). This general rule states that expenditure is qualifying expenditure if:

it is capital expenditure (see ¶235-100) on the provision (see below) of plant or machinery (see the Chapter headed ‘Meaning of Plant’, which begins at ¶235-600) wholly or partly for the purposes of the qualifying activity (see ¶235-800) carried on by the person incurring the expenditure; and

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.