Capital Allowances Act 2001 (c. 2)

Part 2 U.K. Plant and machinery allowances

Modifications etc. (not altering text)

C1 Pt. 2 (ss. 11-270) modified (prosp.) by Proceeds of Crime Act 2002 (c. 29), ss. 448, 458(1), Sch. 10 para. 12 (with para. 17(1))

Chapter 4 U.K. First-year qualifying expenditure

Types of expenditure which may qualify for first-year allowances U.K.

44 Expenditure incurred by small or medium-sized enterprises U.K.

(1) Expenditure is first-year qualifying expenditure if—

(a) it is incurred by a small or medium-sized enterprise, and

(b) it is not excluded by subsection (2) or section 46 (general exclusions).

(2) Long-life asset expenditure is not first-year qualifying expenditure under subsection (1).