PART 1

Direct taxes

Capital allowances

First-year allowance for expenditure on electric vehicle charging points
38
1
CAA 2001 is amended as follows.
2
In section 39 (first-year qualifying expenditure) after the entry for section 45E insert—
section 45EA | expenditure on plant or machinery for electric vehicle charging point
.
3
After section 45E insert—

Expenditure on plant or machinery for electric vehicle charging point
45EA
1
Expenditure is first-year qualifying expenditure if—
a
it is incurred in the relevant period,
b
it is expenditure on plant or machinery for an electric vehicle charging point where the plant or machinery is unused and not second-hand, and
c
it is not excluded by section 46 (general exclusions).
2
For the purposes of this section expenditure on plant or machinery for an electric vehicle charging point is expenditure on plant or machinery installed solely for the purpose of charging electric vehicles.
3
The “relevant period” is the period beginning with 23 November 2016 and ending with—
a
in the case of expenditure incurred by a person within the charge to corporation tax, 31 March 2019, and
b
in the case of expenditure incurred by a person within the charge to income tax, 5 April 2019.
4
The Treasury may by regulations amend subsection (3) so as to extend the relevant period.
5
In this section—
- “electric vehicle” means a road vehicle that can be propelled by electrical power (whether or not it can also be propelled by another kind of power);
- “electric vehicle charging point” means a facility for charging an electric vehicle.
4
In section 46 (general exclusions), in subsection (1) after the entry for section 45E insert— “ section 45EA (expenditure on plant or machinery for electric vehicle charging point) ”.
5
In section 52 (amount of first-year allowances)—
a
in the table in subsection (3), after the entry for expenditure qualifying under section 45E insert—
Expenditure qualifying under section 45EA (expenditure on plant or machinery for electric vehicle charging point) | 100%
b
after subsection (3) insert—
3A
Subsection (3B) applies where the Treasury make regulations under section 45EA(4) (power to extend relevant period).
3B
The regulations may amend the amount specified in column 2 of the Table in subsection (3) for expenditure qualifying under section 45EA, but only in relation to expenditure incurred after the date on which the relevant period would have ended but for the regulations.