First-year allowances (FYAs) are available at a rate of 100% on expenditure incurred on or after 1 April 2003 on new plant and machinery that falls into the category of ‘environmentally beneficial’ (CAA 2001, s. 45H). The relief mirrors that for ‘energy-saving plant or machinery’ (see ¶237-400 and the general comments at ¶237-100, including a section on restrictions applying to certain leased assets).

At Budget 2018 it was announced that:

the 100% first-year allowance for environmentally beneficial plant and machinery will end on 31 March 2020 for companies and 5 April 2020 for unincorporated businesses; and

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