[F145S Expenditure on plant or machinery in other casesU.K.
This section has no associated Explanatory Notes
Expenditure is first-year qualifying expenditure if—
(a)it is incurred on or after 1 April 2023,
(b)it is incurred by a company within the charge to corporation tax,
(c)it is expenditure on plant or machinery which is unused and not second-hand, and
(d)it is not excluded by section 45T (exclusion of expenditure under disqualifying arrangements) or 46 (general exclusions).]
Textual Amendments
F1Ss. 45S, 45T inserted (22.2.2024) by Finance (No. 2) Act 2023 (c. 30), s. 7(3) (as amended by Finance Act 2024 (c. 3), s. 1(1)(2)(a))