A fundamental condition for obtaining plant and machinery allowances is that, as a result of incurring the expenditure, the asset must belong to the person incurring the expenditure.

The requirement appears in CAA 2001, s. 11 headed ‘General conditions as to availability of plant and machinery allowances’. Subsection (4)(b) imposes the condition on the person incurring the expenditure that they should own the plant or machinery as a result of incurring that expenditure.

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