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Capital Allowances Act 2001

Overview

110.This Chapter introduces Part 2 by giving the general conditions for plant and machinery allowances and dealing with some common additional cases.

111.Section 11 identifies the general requirement for plant and machinery allowances: a person must carry on a qualifying activity for which they incur qualifying expenditure. If a person carries on more than one qualifying activity each is looked at separately to decide entitlement to allowances. These general rules are subject to other provisions which amend or replace them in various circumstances.

112.Sections 12 to 14 provide for plant and machinery allowances if a person does not meet the general conditions because:

  • expenditure was incurred before the start of the qualifying activity in question;

  • expenditure was incurred for another purpose before the plant or machinery starts to be used for the qualifying activity; or

  • plant or machinery used for a qualifying activity was a gift.

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Explanatory Notes

Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

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