Capital Allowances Act 2001 section 69

Hire-purchase etc and fixtures

Section 69 deals with the interaction between the hire-purchase ownership rules and the special rules for fixtures, clarifying which set of rules takes priority when plant or machinery acquired under hire-purchase becomes attached to land or a building.

• The hire-purchase deemed ownership rule in section 67 does not apply to plant or machinery that is a fixture — instead, the separate fixtures rules in Chapter 14 govern entitlement to capital allowances.
• The fixtures rules in Chapter 14 are not overridden by the hire-purchase provisions — they continue to apply to expenditure on plant or machinery acquired under hire-purchase or similar contracts.
• Where a person is treated as owning plant or machinery under the hire-purchase rules, but that item subsequently becomes a fixture and the fixtures rules do not treat them as the owner, they are deemed to have ceased owning the item at the point it became a fixture.
• A "fixture" for these purposes means plant or machinery that is installed in or attached to a building or land so as to become part of it, as defined in section 173(1).