Section 172 Scope of Chapter etc
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(1) This Chapter applies to determine entitlement to allowances under this Part in respect of expenditure on plant or machinery that is, or becomes, a fixture.
(2) For the purposes of this Part, ownership of plant or machinery that is, or becomes, a fixture is determined under this Chapter.
(2A) Subsections (1) and (2) are subject to section 172A.
Amendments
Subs (2A) inserted by Finance Act 2006 section 81 and Schedule 8 para 9(1).
(3) The provisions of this Chapter that treat a person as being the owner of a fixture (see sections 176 (to 184 and 193 to [195B]1) are subject to the provisions of this Chapter which treat a person as ceasing to be the owner of a fixture (see sections 188 (to [192A]1).
Amendments
1 Substituted by Finance Act 2001 section 66 and Schedule 18 para 1(a)-(b) for income tax purposes as respects allowances and charges falling to be made for chargeable periods ending on or after 6 April 2001, and for corporation tax purposes as respects allowances and charges to be made for chargeable periods ending on or after 1 April 2001 (to have effect in relation to expenditure incurred on or after 1 April 2001).
(4) References in this Chapter to a person being treated—
(a) as the owner of plant or machinery, or
(b) as ceasing to be the owner of plant or machinery,
are to be read as references to the person being so treated for the purposes of this Part.
(5) This Chapter does not affect any entitlement a person has to an allowance as a result of section 538 (contribution allowances for plant and machinery).
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