Part 2Plant and machinery allowances
Chapter 5Allowances and charges
Available qualifying expenditure
57Available qualifying expenditure
1
The general rule is that a person’s available qualifying expenditure in a pool for a chargeable period consists of—
a
any qualifying expenditure allocated to the pool for that period in accordance with section 58, and
b
any unrelieved qualifying expenditure carried forward in the pool from the previous chargeable period under section 59.
2
A person’s available qualifying expenditure in a pool for a chargeable period also includes any amount allocated to the pool for that period under—
section 26(3) (net costs of demolition);
section 86(2) or 87(2) (allocation of expenditure in short-life asset pool);
section 111(3) (overseas leasing: standard recovery mechanism);
section 129(1), 132(2), 133(3) or 137 (provisions relating to operation of single ship pool and deferment of balancing charges in respect of ships);
section 165(3) (abandonment expenditure incurred after cessation of ring fence trade);
section 206(3) (plant or machinery used partly for purposes other than those of the qualifying activity);
section 211(4) (partial depreciation subsidy paid).
3
A person’s available qualifying expenditure does not include any expenditure excluded by—
section 8(4) or 9(1) (rules against double relief);
section 166(2) (transfers of interests in oil fields: anti-avoidance);
section 185(2), 186(2) or 187(2) (restrictions where other claims made in respect of fixture);
section 218(1), 224(1), 228(2), 242(2), or 243(2) (general anti-avoidance provisions).
4
Subsection (1) is also subject to section 220 (allocation to chargeable periods of expenditure incurred on plant or machinery for leasing under finance lease).