Capital Allowances Act 2001 section 45S

Expenditure on plant or machinery in other cases

Section 45S sets out the conditions under which expenditure on plant or machinery qualifies as first-year qualifying expenditure for companies within the charge to corporation tax.

• Expenditure must be incurred on or after 1 April 2023 but before 1 April 2026 by a company within the charge to corporation tax
• The plant or machinery must be unused and not second-hand
• Expenditure is not eligible if it falls within the disqualifying arrangements described in section 45T
• Expenditure is also not eligible if it is caught by the general exclusions set out in section 46