Part 2 Plant and machinery allowances
Chapter 4 First-year qualifying expenditure
Types of expenditure which may qualify for first-year allowances
F145UExpenditure on plant or machinery in cases not falling with section 45S etc
Expenditure is first-year qualifying expenditure if—
(a)
it is incurred on or after 1 January 2026,
(b)
it is not special rate expenditure,
(c)
it is expenditure on plant or machinery which is unused and not second-hand, and
(d)
it is not excluded by section 45V (exclusion of expenditure under disqualifying arrangements) or 46 (general exclusions).