Section 45A Expenditure on energy-saving plant or machinery

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Amendments

Section 45A inserted by Finance Act 2001 section 65 and Schedule 17 para 2 with effect as respects allowances and charges falling to be made for chargeable periods ending on or after 6 April 2001 (for income tax purposes), and 1 April 2001 (for corporation tax purposes).

(1) Expenditure is first-year qualifying expenditure if—

(a) it is expenditure on energy-saving plant or machinery that is unused and not second-hand,

(b) it is incurred on or after 1st April 2001, and

(2) Energy-saving plant or machinery means plant or machinery in relation to which the following conditions are met—

(a) when the expenditure is incurred, or

(b) when the contract for the provision of the plant or machinery is entered into.

(3) The conditions are that the plant or machinery—

(a) is of a description specified by Treasury order, and

(b) meets the energy-saving criteria specified by Treasury order for plant or machinery of that description.

(4) Any such order may make provision by reference to any technology list, or product list, issued by the Secretary of State (whether before or after the coming into force of this section).