Capital Allowances Act 2001 section 452

Know-how allowances

Section 452 establishes that capital allowances are available when a person incurs qualifying expenditure on acquiring know-how, and defines what "know-how" means for these purposes.

• Allowances are available where qualifying expenditure is incurred on acquiring know-how
• Know-how means industrial information or techniques useful in manufacturing, processing, mineral extraction, or agricultural, forestry and fishing operations
• Mineral deposits are broadly defined to include any natural deposits that can be lifted or extracted from the earth, including geothermal energy
• Sources of mineral deposits include mines, oil wells and sources of geothermal energy