Capital Allowances Act 2001 section 24

Interests in land

Section 24 establishes that expenditure on acquiring an interest in land cannot qualify as expenditure on plant or machinery for capital allowances purposes, while carefully defining what "land" means in this context.

• Spending on acquiring an interest in land is excluded from qualifying expenditure on plant or machinery
• For these purposes, "land" does not include buildings, structures, or assets that have become legally fixed to the land
• Items such as installed fixtures that have become part of the land in law are treated separately from the land itself
• The definition of "interest in land" follows the meaning given in section 175 of the Act, which deals with fixtures